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Copper Industry in Iran Witnessing Major Investments

Metal News - Published on Tue, 03 Dec 2019

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A report revealed about USD 3 billion is slated to be invested in the copper industry of Iran in the next 5 years, allowing Iran to be more competitive and have a better share of an international market that is facing a surging demand for the precious metal. as the country is eyeing a bigger share in the international market of the precious metal. The report quoted the head of IMIDRO Mr Khodadad Qaribpour as saying that the country is aiming to increase both the output and the resource discovery activity in the copper sector. He said “More than USD 120 million had been spent on a major project finished earlier this year to produce 610,000 tonnes of sulfuric acid, a key ingredient and by-product in copper production, each year. Activity is surging at three main copper hubs in southeast and northwest of Iran.”

National Iranian Copper Industries Company head Mr Ardeshir Sa’ad Mohammadi also said that “Information from main production and distribution sites in Iran’s copper industry will soon be incorporated into a centralized system to allow the government and investors to have a transparent view of the situation in smelters, mines, refineries and storage houses. The integrated system will be ready for use until March next year, enabling the NICICO to better introduce opportunities for investment in the copper sector to investors inside and outside of Iran.”

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Posted By : Rabi Wangkhem on Tue, 03 Dec 2019
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