Iran plans to increase its copper production to as much as 1 million tons within a six-year time span, according to the managing-director of the National Iranian Copper Industries Companies.
Once fulfilled, the target plan will increase the country’s copper revenues from the current $1.5 billion to more than $10 billion, Ali Rostami said, according to a Monday report by IRNA news agency.
He said that Iran has plans to make some €15 billion of investment in the National Iranian Copper Industries Companies which is expected to increase the country’s copper output from the current 250,000 tons to 1 million tons in 5 to 6 years.
Noting that Iran is the world number 18 copper producer, the official said that the country still plans to improve its status in the global market.
“Now we have minerals for more than 250 years, so the copper industry is a very important industry for the country and it was not possible [for the enemies] to sanction it and we had exports even in the worst conditions.”
He said that the world is moving towards production of electric cars and renewable energies and this would lead to a surge in the copper consumption by several times.