Resumen de Middle East ramps up investment in industrial minerals
Middle Eastern investors, which typically consist of sovereign wealth funds, "family offices" and locally-headquartered conglomerates, are looking for "stable, long-term [mining] projects with opportunities to invest upstream and downstream," [Mohamed Mughal] said.
The lifting of international sanctions against Iran is a specific focus for many GCC investors, Mughal said. He said that funding groups were "just sitting and waiting for the country to open up" and that there would be a "whole pool of capital" available to be poured into the country, once the green light was given by international regulators.
Iran is opening $30bn-worth of energy projects and $29bn of mining deals to investors once international sanctions imposed on Iran are officially lifted, Bloomberg 's report said. Khosrowtaj noted that metals discovered in the country, such as copper, lead and higher-priced rare earth elements, could be worth "much more" than the nation's oil industry revenue of around $30bn, assuming crude prices of $40/barrel and exports of 2m barrels per day.
