MENAFN cited Mr Ardeshir Sad Mohammadi MD of National Iranian Copper Industries Company as saying that since March more than USD 8 billion were invested in the country's copper industries.

Mr Sad Mohammadi said that 40 development plans for copper output were ongoing with a value of USD 7.35 billion and once operational, Iran's annual output capacity of copper would rise from the current 200,000 tonnes to 700,000 tonnes with an increase of 3.5 folds.

He said that Iran's current reserves of copper were 32.5 million tonnes however, the amount would grow notably in the coming months. It is worth noting that each year, around 36 million tons of copper is extracted in Iran, and the amount is forecasted to increase reaching 70 million tonnes in 2012.

(Sourced from MENAFN)