Ways of discouraging Iranian mine owners from selling raw materials

Presence of foreign investors in the country’s mining sector will result in a decline in exports of unprocessed materials and a hike in government’s tax revenues, SMT, a Tehran-based daily, quoted Seyyed Mohammad Bayatian, a member of parliament’s Industries and Mining Committee, as saying.

By levying high tariffs and enforcing tough regulations, parliament and government seek to encourage mine owners to process their products, he said.

Bayatian, who represents Bijar in the Islamic Consultative Assembly, went on to say that heavier tariffs will also push up added value, create jobs and prevent exports of raw materials.

Of course, tax incentives and provision of low-interest loans to mine owners should be part of government plans to encourage the industry to process materials before putting them for sale on the market, he concluded.