Iran's mining projects on hold as investors fear new sanctions

Iran has put on hold “almost all” of its mining agreements with foreign investors as companies from Europe to Asia fear additional sanctions on the Persian Gulf nation’s economy, according to the deputy minister of Iran’s Ministry of Industries, Mines and Trade. Less than $100-million of projects is moving forward, out of the $50-billion in potential investment the government is seeking from overseas mining companies by 2022, Mehdi Karbasian said Monday in an interview in Tehran.