Kazakh to invest in Iran mining sector

A Kazakh company will assist Iran in projects to discover gold and copper deposits, says a senior Iranian official.

Director general of the commerce department of Iran's Trade Development Organization Abdolhamid Asadian said that Kazakhmys, Kazakhstan's biggest mining and energy group, will expand its activities in Iran.

He said the decision was taken after an energy and mining delegation from Kazakhmys visited to Iran to examine investment opportunities in the country's copper, gold, oil, and electricity sectors.

Kazakhmys is a leading international natural resources group listed in the UK and Kazakhstan with significant interests in copper, gold, zinc, silver, power generation and petroleum.

According to TATA website, Iran is among the 10 countries holding the largest mineral deposits — 100 million tons of 60 different minerals.

It has over 2,700 mines, 90 percent of which are run by the private sector, only 5 percent by the state, and the remaining by foundations and municipalities.