Iran is aiming to increase annual production of precious metals and gemstones to 500 tons until March 2025. Iran’s Industry, Mining, and Trade Ministry has approved the draft of an operational plan for developing the industrial chain of precious metals and gemstones to achieve the aim.

The draft was approved in a meeting attended by the Deputy Industry, Mining, and Trade Minister Mehdi Sadeqi Niaraki and Ali Agha-Mohammadi, head of the economic group at the office of the Islamic revolution’s leader.

In his speech at the meeting Niaraki shared the Industry Ministry’s plans for developing the country’s major industries. He stated that: “Last year, four action plans were prepared to develop the production chains of clothing and footwear, precious metals, food and beverages, and home appliance industries; these industries account for 40 percent of the total value of the country’s industrial products.”

According to the Niaraki, facilitating supply, production, and exports, providing trade infrastructures, developing export, supporting domestic manufacturing and import management, empowering human resources and strengthening design and research, as well as amending laws, regulations and directives related to the production of related categories, are among the most important axes of the operational plan for the development of the industrial chain of precious metals and gemstones.

Niaraki also noted that the draft operational plan has been prepared using the opinions of the private sector and will be unveiled in the near future after the final amendments are applied.

The plan will be communicated to the relevant organizations and agencies after official approval, he added.

Industry Minister Alireza Razm Hosseini had previously announced the allocation of approx about $119 million for supporting production units active in the field of precious metals and gemstones.

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