Royalty Revenues for Mining Development

Lawmakers voted on Thursday to allocate the government’s entire revenues from mining royalty and usufruct fees for the development of the infrastructure of large Iranian mines, expansion of mineral exports with high value-added and completion of mineral exploration projects.

The legislation is part of the sixth five-year economic development plan (2016 - 21), IRNA reported. President Hassan Rouhani submitted the Sixth Plan along with the current fiscal year’s budget to the parliament mid-January. The five-year economic development plans are medium-term roadmaps designed by the government to help achieve sustainable growth, the strategies for which are outlined in its budget planning for the next five years.