Iran is stepping up talks with potential foreign investors with an eye to developing its mining and metals industries according to Mehdi Karbasian, president of Imidro a state-owned group pushing for mine development in the country, Platts News reported on Wednesday.
The annual value of Iran’s mining and metals imports and exports only amount to $11.5 billion at the moment, but following the lifting of sanctions last year the country has ambitious plans saying potential revenues from the sector could be worth more than crude oil.
Speaking following the opening of a new Europe-Iran trade center in Berlin, Karbasian said Imidro recently held talks with Australia’s Rio Tinto about new investments in the Middle Eastern nation’s aluminum, steel, copper and gold industries.
Karbasian has also met with top brass from European commodities trading giants Glencore and Trafigura, and Germany’s Aurubis, the regions top copper producer and the world’s number one recycler of the metal:
“Glencore and China’s NFC already have business agreements to help develop Iran’s copper industry, Karbasian said earlier this year. Iran hopes to raise its copper concentrates output to as much as 2 million mt/year by 2025 in conjunction with partners, from some 200,000 mt/year at present, as part of a national development plan, he said.”
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