‘Private sector crucial for achieving 13% growth in mining sector’

Mohammad Reza Bahraman, deputy head of the Iran Chamber of Commerce, Industry, Mines and Agriculture (ICCIMA), has stated that achieving a 13 percent growth in the mining sector is possible if the government assumes a purely supervisory role and leaves the execution of projects to the private sector.In a recent interview with ICCIMA portal, Bahraman emphasized that the mining sector’s growth potential is immense, particularly as Iran holds significant mineral reserves, including copper, lithium, nickel, manganese, cobalt, zinc, iodine, and rare earth elements.

These resources, which have seen market growth over the past five years, are expected to see substantial increases in global demand by 2040, requiring global investments of up to $1.7 trillion.Bahraman added that for the mining sector to contribute to Iran’s economic growth target of 13 percent in the Seventh National Development Plan, the country must attract an additional 55 billion euros in net capital over the next five years.He pointed to the revitalization of the Mehdiabad mine, which was revived by the private sector after 72 years of closure, as an example of successful private-sector involvement. Bahraman stressed the importance of private sector participation in driving growth, and emphasized that the government should only play an oversight role, allowing private entities to take the lead in economic development.