MNA � Extraction from Iran�s largest and the world�s second largest lead and zinc reserve began today at a ceremony attended by Industry Minister Nematzadeh.


�The mine is situated 116 kilometers southeast of Yazd city and contained over 160 million tons of lead and zinc with purities of 2.3 and 7.3 per cent, respectively,� said Amin Safari, Managing Director of Mehdiabad Lead and Zinc Mining Complex.

Barite reservoir of the mine amounts to over 10 million tons with specific gravity of 3.6 with, noted the official adding �the complex produces 4,000 tons of barite and 1,200 tons of lead and zinc per year.�

He stated that a contract had been inked with Mobin Trust Consortium under which 185 million tons are expected to be recovered and an 800,000-ton zinc concentrate unit for will be constructed within five years.

Speaking at the opening ceremony, Iranian Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh said 4.5 million tons of steel had been exported to foreign markets in the previous Iranian calendar year (ended March 20) while the target figure for the current year has been set at seven million tons.

He said 100 mining regions had been introduced to eager domestic and foreign investors for two thirds of which study contracts have been inked.

The official further expressed hope that Mehdiabad Lead and Zinc Mining Complex will reach full output capacity in the coming four years and emphasized the need for new explorations and discoveries besides extraction.

Referring to presence of the private sector in in industrial development of the country, Nematzadeh said it was on the government�s agenda to support investments by the private sector.

The Iranian industry minister went on to call for export-oriented production asserting that the objective was unattainable but through investments aiming at exports to large global markets.