Iranian Copper in High Demand in Persian Gulf, Turkey, S. Arabia
March 8, 1999 - 0:0
TEHRAN Mines and Metals Minister Eshaq Jahangiri told IRNA here on Sunday that Iranian copper has been widely welcomed by the Persian Gulf littoral states, Saudi Arabia and Turkey and they have announced their readiness for long term purchase of the commodity. Jahangiri said that Iran's cathode copper exports rose to more than 45,000 tons in the first eleven months of the year (March 21- February 19) from 15,000 tons within the same period last year.
He said that his ministry is ready to purchase concentrated copper produced by small copper producing complexes at international prices. He added that the geology and mineral exploitation company has identified 537 copper indices and put them at the diposal of the copper company. He predicted that the indices will have 27 million tons of reserves. The minister put the production capacity of Sarcheshmeh Copper Complex at 120,000 tons and said the figure is expected to reach 120,000 tons by the year end on March 20, 1999.
He said the complex produced 105,000 tons of cathode copper in 1997. Once copper production projects come on stream, Iran's cathode copper production capacity will reach 280,000 tons. That's why, he added, contracts have either been signed or are to be signed with some foreign trade partners. He said that contracts worth $435 million have been signed for upgrading of Sarcheshmeh concentrated and smelting complex, Miduk and Sungun copper production complex and Khatunabad Copper Smelting Complex. He predicted that other contracts totally worth $250 million would be signed next year.
He expressed hope that in light of the projects Iran's copper production capacity would reach 280,000 tons. More than five percent of the world's copper reserves are in Iran and the Mines and Metals Ministry tries to gain at least a five percent share of the world's copper production capacity, said Jahangiri.
He said that his ministry is ready to purchase concentrated copper produced by small copper producing complexes at international prices. He added that the geology and mineral exploitation company has identified 537 copper indices and put them at the diposal of the copper company. He predicted that the indices will have 27 million tons of reserves. The minister put the production capacity of Sarcheshmeh Copper Complex at 120,000 tons and said the figure is expected to reach 120,000 tons by the year end on March 20, 1999.
He said the complex produced 105,000 tons of cathode copper in 1997. Once copper production projects come on stream, Iran's cathode copper production capacity will reach 280,000 tons. That's why, he added, contracts have either been signed or are to be signed with some foreign trade partners. He said that contracts worth $435 million have been signed for upgrading of Sarcheshmeh concentrated and smelting complex, Miduk and Sungun copper production complex and Khatunabad Copper Smelting Complex. He predicted that other contracts totally worth $250 million would be signed next year.
He expressed hope that in light of the projects Iran's copper production capacity would reach 280,000 tons. More than five percent of the world's copper reserves are in Iran and the Mines and Metals Ministry tries to gain at least a five percent share of the world's copper production capacity, said Jahangiri.