16:10 GMT +319 April 2019
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    A general view of Golgohar Iron Ore mine in Sirjan some 1050 kms southeast of the capital Tehran

    Russian, Chinese, French Companies Plan to Fund Iran's Mine Projects

    © AFP 2019 / Behrouz MEHRI
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    Russian, Chinese and French companies have approached Tehran with investment plans to tap its natural resources, the Iranian deputy minister for industry, mines and trade said Monday.

    MOSCOW (Sputnik) — Iran’s state-run Management and Planning Organization will allocate $66.8 million to production, the mines deputy chief said.

    Some of this money is expected to be used to develop and overhaul mines.

    "The French, Russians and Chinese are planning to fund the country’s mine projects in various sectors and have drawn up a number of investment packages for this purpose," Mehdi Karbasian told the national Mehr news agency.

    Karbasian added that Chinese businesses had revised their approach to dealing with Iran, opting to invest directly in the industry to get a competitive edge.


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