Iran, 24th Sep 2023, King NewsWire – Iran’s mining industry is at a historic turning point. On September 15, 2023, the National Mining and Metals Development Organization of Iran (IMIDRO) showcased its commitment to innovation and transformation in the mining sector, embarking on competitive consultations for the RockWealth project with six major global entities, jointly exploring the future of digital mining investments.
The significance of the RockWealth project lies in its redefinition of the traditional mining investment paradigm. With over 20 mines under IMIDRO’s portfolio set to be opened for leasing, investors now have the opportunity to directly participate in these mining ventures, reaping their economic benefits. The existing cash flow will be redirected towards discovering and developing new mines, continuously fueling Iran’s mining prospects.
The six prominent investors participating in this consultation include GPIF, the Asian Development Bank (ADB), Japan NPO Center, the Generation Public Welfare Association (GPWA), the China Venture Capital and Private Equity Association (CVCA) , and the Avina Foundation. Their involvement not only ensures financial backing for the RockWealth project but also contributes invaluable international expertise and resources.
Behind these consultations, IMIDRO’s leadership demonstrates a clear development strategy and visionary aspirations. RockWealth’s CEO, Reza Hosseini, emphasized during the consultations the resolution to rejuvenate national small-scale mines. Public records indicate that since the inception of this initiative, 453 mines have been activated, generating 3,500 direct employment opportunities for the nation. Last December, Reza Azimi announced that IMIDRO had formalized investment memorandums and scientific research collaborations with several knowledge-intensive firms, bolstering partnerships with innovative enterprises.
In the broader context of Middle Eastern international politics, especially the Saudi-Iran relations, the two have displayed cooperative and dialogic postures in various arenas this year, facilitating regional stability and peace. Such an external environment undeniably presents IMIDRO with expansive growth opportunities.
On another front, the digital leasing investment model adopted by the RockWealth project breathes new life into conventional mining investments. Through a tailor-made app for investment entities, investors can instantly access diverse mining data, significantly enhancing investment convenience and accuracy.
In conclusion, Iran’s mining industry is undergoing profound transformation. The collaboration between IMIDRO and leading global investment institutions signifies the dawn of a new, digitalized, and international era for Iranian mining.
Contact Person: IMIDRO
Release Id: 2409236583
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