Loading ...Iran’s full-re-entry into the world energy market upon the lifting of sanctions has hurt oil prices further, sending them below the psychologically significant $30-a-barrel level last week.
The question in everyone’s mind now is how Iran’s incursion into the mining industry will affect an already struggling sector, hit by a sustained rout in commodity prices.
Investor took renewed interest on the subject Monday, as Iran’s Deputy Industry, Mine and Trade Minister, Mehdi Karbasian, said his country hopes to finalize investment plans worth about $5.4 billion during President Hassan Rouhani visit to Italy, where he arrived Monday, on the first leg of a landmark visit to Europe.
The potential deals, Tasnim News Agency reports, include joint investments in the steel production chain in southern Iran, in an area stretching from Chabahar on the Gulf of Oman to Bandar Abbas and Jask in the Persian Gulf.
Karbasian is also expected to ink a contract with Italian and Chinese firms to carry out the second phase of Salco, Iran’s largest aluminum smelter plant, Trend News Agency reports (subs. required).
more http://www.mining.com/iran-goes-beyond-oil-to-sign-5-4bn-mining-deal-with-italy-france/