Copper projects worth over $950m inaugurated

May 8, 2020 - 16:59

TEHRAN- Four development projects worth 40 trillion rials (about $952.3 million) were inaugurated in the copper sector of Kerman Province in the southeast of Iran on Thursday, Shata news reported.

As reported, President Hassan Rouhani put the projects into operation through video conference.

The projects inaugurated in Khatoon Abad Copper Complex included increasing the capacity of copper smelting in the complex, building a copper concentrate storage, construction of a sulfuric acid production plant, and an oxygen supplying unit. 

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO)’s Managing Director Khodadad Gharibpour was present in the inaugural ceremony of the projects.

By putting the first project into operation, the complex’s capacity for producing copper anode rises by 50 percent to 120,000 tons, and the country’s copper smelting capacity rose to 400,000 tons. This project creates jobs for 120 persons.

Some 1.11 trillion rials (about $26.4 million) plus $118 million have been invested for this project.

The second project, which was the construction of a 60,000-ton storage facility, was implemented at the cost of 158 billion rials (about $3.7 million) plus three million euros, creating jobs for 250 people.

The third project is valued at 750 billion rials (about $17.8 million) plus 100 million euros and the fourth one was put into operation at the cost of 192 billion rials (about $4.5 million) plus 31 million euros.

Addressing the inaugural ceremony via video conference, Industry, Mining, and Trade Minister Reza Rahmani released a report on the projects currently underway in the mining sector.

MA/MA

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