U.S. Sanctions Will Do 'Little Damage' To Iran's Mining Industry - BMI
The re-introduction of U.S. sanctions against Iran will have a limited impact on the Iranian mining and metals industry, according to BMI Research. Sanctions will do “little additional damage to an industry already crippled by a myriad of domestic operational challenges,” BMI Research says. According to a recent report, foreign entities are already avoiding the country when it comes to investments, largely due to corruption and lack of infrastructure. On top of that, Iran’s mining industry is consolidated and is made up of state-owned companies, with limited access to foreigners. BMI is still projecting 5-6% growth for Iran’s mining industry in the short-term, with some interest coming from Europe and Asia. The BMI analysis comes after U.S. President Donald Trump’s announcement last week that he is pulling out of the Iran nuclear deal and is reinstating “U.S. nuclear sanctions on the Iranian regime” as well as introducing “the highest level of economic sanctions.”
By Anna Golubova of Kitco News; agolubova@kitco.com
By Anna GolubovaFor Kitco News
Follow annagolubova
agolubova@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.