Plans to Invest $15b in Copper Industry Over Next Five Years

Iran aims to raise the production of the strategic metal from the current level of 280,000 tons of copper cathodes per year to 1 million tons.

T he Ministry of Industries, Mining and Trade has announced plans to invest $15 billion over the next five years for boosting its copper production.

Iran aims to raise the production of the strategic metal from the current level of 280,000 tons of copper cathodes per year to 1 million tons.

Minister of Industries, Mining and Trade Reza Fatimi-Amin has been quoted as saying by the ministry’s website that the investment plan would have a significant impact on the country’s copper exports.

Currently valued at $1.7 billion per year, the exports will see a dramatic jump to more than $10 billion, he added.