TEHRAN July 5 (MNA) –- Considering the short-term and medium-term development projects in the copper industry, it is predicted that Iranian copper production capacity will hit 350,000 tons per annum by the end of the Fourth Five-Year Development Plan.

According to a report released by Mehr News Agency, it is also projected that copper industry production capacity will mount up to 280,000 tons in the current Iranian calendar year 1383 (March 20, 2004- March 19, 2005); the nominal objective of the industry stands at 500,000 tons for the current year.

 

Iran is located on a copper belt reserve estimated to hold 1,900 million tons of copper in total and composing 3.5 percent of global mineral reserves, the report says.

 

Touching on copper industry development plans the report added that plans to be carried out include smelting, refining, mining, and copper concentration operations.

 

The plans are being designated in two phases. For implementation, preliminary and necessary infrastructural projects in water, electricity and gas sectors are currently under way.

 

The first phase of development intends to increase the production capacity of cathode from 145,000 tons to 280,000 tons and the total investment embodied in the two phases is roughly $2.3 billion. 

 

HK/DWN/IS

END

MNA

News Code 6630

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