October 16, 2008

Iran in good position in terms of mineral reserves - Minister

IRNA reported that Iran is in a good position in terms of mineral reserves and geological potential worldwide having 1.8% of the world's identified mineral resources and 104 million tonnes of mineral reserves.

Mr Ali Akbar Mehrabian Iranian minister of industries & mines said that 210 million tonnes of mineral extraction annually in Iran shows that it is lagging global standards in terms of mineral exploitation.

Mr Mehrabian said that current steel production capacity of Iran stands at 10.5 million tonnes annually and the figure is expected to reach 32 million tonnes in 4 years. He added that Iran now stands 20th in the list of steel producers and this will improve to 13th in four years once ongoing projects are fully commissioned.

As for aluminum, Mr Mehrabian said Iran's current production capacity is 210,000 tonnes and it will be 800,000 tonnes a year once related projects are operational. In the copper sector, Iran produces 200,000 tonnes a year, which will rise to 440,000 tonnes in five years.