The Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) said 20 major mining projects with a combined value of $3.1bn are expected to be implemented by March next year.

IMIDRO director Ahmad-Ali Harati-Nik said eight projects are currently ready for launch.

“Steel production in the next four years will increase considerably and supplying iron ore in the country must increase to meet the demand,” Harati-Nik said.

IMIDRO is an industrial organisation that surveys, prepares, executes, develops, equips and revamps projects in metallurgy production sectors, mining and exploitation of minerals, as well as running discovery plans.

IMIDRO consists of eight key companies and nearly 55 operational subsidiaries involved in copper, mineral, aluminium and steel exploitation.