As one of the top listed companies in the country, Mines and Metals Development Investment Company publicly announces some of its important under way projects in order to clarify the plans of the company.
According to the public relations of the Mines and Metals Development Investment Company, in order to clarify and increase public awareness about the development plans, the company publicly provides its shareholders with some explanations about a number of its future plans:
Regarding the participation of “MMDIC” company in “Janja” copper and gold mine, the company, with the accompany of great companies of Chadormelo, Golgohar, Goharzamin, Ghadir Investment Company, and Tajalli in the form of a mineral consortium, were announced as the winner of the auction by the Minerals Production Company of Iran and this issue was notified to the capital market on the 5th of Bahman this year via Cadal system; The initial investment volume of the project is estimated about $ 350 million, and the revenue from the project after the operation is estimated about $ 400 million to $ 450 million.
Also, the issue of partnership in the establishment of Artaville Diamond Iron and Steel Complex Company is announced. This plan will be implemented with a production capacity of 1.1 million tons of sponge iron and an investment of one thousand billion Rials in Ardabil province and the share of MMDIC is 40%. (Information about this plan has been informed to the capital market on January 20 of this year in Kadal system)
The plan of Kurdistan Steel Industries Company aiming at implementing and completing the project of producing sponge iron and steel in the western region of the country has been launched and Mines and Metals Development Investment Holding Company has invested in this project with a 56% share in this company, and the information related to this partnership was informed to the capital market on the 8th of Aban and the 29th of Day this year.
Eghlid Pars Steel Company was established with an initial capital of 50 billion Tomans with the aim of implementing a project to produce 1.1 million tons of sponge iron in Fars province (Eghlid region) with the partnership of three investment companies including MMDIC, Chadormelo and Iran Engineering Company (ERITEC) that the share of “MMDIC” in this project is 51%; The information related to this plan was also informed to the capital market on the 29th of Day this year.
Regarding the investment in “Saheb Saqez” iron ore mine, due to winning the auction for transferring (extraction and sale of mineral) of this mine by the mining consortium consisting of MMDIC, Sabanvar company, and Tajli company, the license to carry out extraction and sale operations for a ten-year period has been assigned to this consortium, and information about this issue has also been provided to the capital market.
In the end, it should be pointed out that Mines and Metals Development Investment Company is one of the largest stock exchange investment companies, considering all the rights of its shareholders and with a developmental approach and while trying to increase its income as one of the top seven operating companies in the country under the title of “Pioneers of Iran’s Development” group, has put new investments in the field of industry and mining on its agenda and, relying on the shareholders’ trust and its scientific and technical capabilities, hopes to take big steps towards achieving its goals.
