The Ministry of Industry announces the start of the procedures for launching licensing rounds for mineral investment


“Iraq is a competitive regional player in the mining industry, which is the basic base for industrial growth and a necessity,” Minister Mohammed Shiaa al-Sudani told a seminar on mining licenses in Iraq organized by the Extractive Industries Transparency Initiative in cooperation with the Ministry of Oil. The local market and export, where most of the raw materials in Iraq by simple nature and wide extensions and stability of metal and chemical structures and easy to extract.
“There are important sources of mineral ore and industrial rocks in Iraq. It is considered the first free sulfur reserves in the world in terms of quantity. The phosphate reserves are in second place, as well as abundant sources of limestone suitable for cement industry, silica sand, wadi alkaulin, bentonite, brick, salts, gravel, sand, As well as there are many evidence of metallic mineral ores in the Kurdistan region, the most important of which is lead, copper and copper, which require exploration and metal surveys to evaluate it. ”
Al-Sudani added that “the Ministry of Industry and Minerals aims, through mineral investment, to set up a number of important multilateral and construction industries within Iraq through cooperation with the private sector and to move towards investment in order to achieve better financial returns to the State from exporting them as raw materials so that the Iraqi mineral wealth will be an important Oil and gas. ”
He pointed out that “the national industry has become an important option to diversify sources of income. The ministry has been keen to develop an industrial strategy as part of the reform process to put the Iraqi economy on a promising track for development in the medium and long term by looking beyond the immediate needs of security and building the structure In creating a national industry that competes regionally and globally, adopting discrimination and creativity, achieving a diversified economy and creating jobs using resources efficiently, efficiently and responsibly, “he said.

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