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Economy News _ Baghdad
Today, Sunday, the Geological Survey of the Ministry of Industry and Minerals clarified the details of its work regarding granting an industrial establishment license and referring mineral revolution projects, announcing the size of sulfur reserves.
The Director of the Mineral Investment Department in the Authority, Ahmed Tariq Shehab, said, in an interview with the Iraqi News Agency, and followed by "Al-Iqtisad News", that "the authority oversees the regulation of investment work in mineral wealth through its association with two parties, namely, the Directorate of Industrial Development in the Ministry in accordance with Law 20 of 1998 and granting it licenses Establishing industrial projects, and the other side is the National Investment Authority and its branches in the governorates.
He added, "Most of the clays and ores are invested by a decision of the Ministry of Industry," explaining that "since the end of 2012, the Mineral Extraction Department was affiliated with the Geological Survey and our commission became centrally funded by the Ministry of Finance, and the department was separated, with its affiliated sites, including the silica sand site. Al-Atyan and Husayniyat iron, and became affiliated with the Extraction Department of the General Company for Mining Industries.
He pointed out, that "when an investor arrives, the authority is required to specify the raw material, its depth, quantities, extension, and the mining conditions for the material to be invested."
He continued, "Our commission is supervising this issue, in addition to implementing the amended Mineral Investment Law No. 91 of 1988, which is currently in force, and then to put investors in front of their capabilities to invest accordingly."
He stressed that "the Commission alone cannot implement the investment on its own, because we will need owners, excavators and financial funding, which the government has not monitored, to activate investment in mineral wealth."
He pointed out, "The sulfur reserve of 320 million tons contains sulfur rocks and needs special treatments, so raw sulfur accompanies the rocks."
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