Iran to Exploit Metals & Minerals Wealth

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Researched by Industrial Info Resources (Sugar Land, Texas)--While production, processing, transportation, and sales of crude oil and natural gas account for a notable portion of Iran's gross domestic product, the country has an extensive mineral production and processing industry. Mineral resource explotation represents a significant component of domestic industries.

In 2009, the National Iranian Copper Industries Company (NICICO) (Tehran, Iran) proposed a significant increase in Iran's refined copper production by 2014 through a package of projects that includes the construction of a new smelter at Songon, the expansion of the Khatoonabad smelter, the construction of a 5,000-ton-per-year capacity solvent extraction plant at Miduk, and a new 100,000-ton-per-year copper refinery at Khatoonabad.

In September 2010, NICICO signed a contract with Tavan Bargh Azerbaijan Company (Tabriz, Iran) as general contractor to construct the smelter, refinery and concentrate plants in the Songon copper complex . The construction of the second phase of the concentrate plant requires a $180 million investment. The project should be completed in a three-year period to operate alongside the smelting and refining plants.

According to unofficial information, upon completion of the projects in the Songon copper complex, direct job opportunities will be provided for about 1,000 people.

In another significant development, the joint venture of Persian Gold plc (Dublin, Ireland) (70%) and Iran's Dorsa Pardazeh Company (30%) completed the technical work required for the application for a discovery certificate for the Dalli prospect. Another Persian Gold joint venture continues to wait for a positive response from the government on a previously filed application for a discovery certificate for the Chah-e-Zard prospect.

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