Outlook plan required for copper industry development

Holding 34 million tons of copper reserves, Iran accounts for four present of the world’s total reserves of this metal which is 830 million tons.

But the country’s production of copper is just 1.5 percent of the global figure and it is why preparing an outlook plan for the development of copper industry in Iran seems necessary.

Preparation of such plan, at the first step, requires removing various barriers this industry is facing. Some of these hindrances are mentioned as follows.

Lack of liquidity, low technology, fluctuations in commodity market, investment challenges, inflation, fluctuations in foreign currency exchange rate, and also limitations created by the sanctions have been mentioned as some of the major obstacles in the way of developing copper industry in Iran.

For implementation of copper projects a number of barriers have been mentioned including not-realistic schedule and illogical deadline for implementation, weakness in management, lack of expert engineers in some fields, objectives being unclear for the team, changes in the project, weakness in risk management, and lack of balance between authorities and responsibilities of the directors.

Some experts and those active in copper industry also believe that the government’s interference is high in some parts of this industry, and it is another challenge in the way of development.

They say that through different bylaws the government makes the producers confused and interrupts their planning.

Downstream industries are also facing obstacles for development in this sector, as their production is not economically viable in many fields; therefore, the country should take steps for making operations such as melting and refining economically viable through providing necessary condition.

Although the statistics released by the Ministry of Industry, Mining and Trade indicate that copper production in the country is on a rising trend, as the output has increased 18 percent during the first half of the current Iranian calendar year (March 21-September 22) compared to the first half of the past year, it should not be used as an excuse for ignoring the existing impediments.

Because due to a number of factors including the rising trend of using electric vehicles and growth in IT industry throughout the world, demand for copper is increasing, and that is why Iran should develop its domestic industry to achieve a larger share of the global market of this mineral.

Expansion of exploration and discovery activities, boosting productivity of production units, promotion of technology, and scrap copper recycling are some strategies that the industry experts refer to for development of copper sector.

The good news is that Industry, Mining and Trade Minister Reza Rahmani has announced that some fruitful activities are being conducted in mining sector of the country and in fact a revolution is underway in this sector which promises some good future.

News No: 6915
Date: 2019/10/23 - 21:47
News Source: Tehran Times

Reza Rahmani  Downstream industries  foreign currency  copper industry 


Leave a Comment:


Minister: Iran Welcomes Chinese Investors in Car Industry

Iranian Industry Minister Reza Rahmani said car manufacturers and part makers of his country welcome Chinese carmakers wishing to invest in Iran.

Industry minister visits Shanghai to negotiate co-op with Chinese officials

Heading a high-ranking delegation, Iranian Industry, Mining and Trade Minister Reza Rahmani arrived in Shanghai on Monday to hold talks with Chinese officials.

TEDPIX gains 230 points in a day

TEDPIX, the main index of Tehran Stock Exchange (TSE), has risen 230 points to 308,960 on Sunday, IRIB reported.

Iranian companies sign €60m petchem equipment production agreement

National Iranian Oil Engineering and Construction Company (NIOEC) signed an agreement with two domestic companies namely Machine Sazi Arak and AzarAb Industries for cooperation on indigenizing the manufacturing of some equipment used in petrochemical industry.

Tehran, Belarus Determined to Expand Economic Ties

Iranian Minister of Industry, Mine and Trade Reza Rahmani and Belarusian Minister of Agriculture and Food Anatoly Khotko, in a meeting in China, voiced their respective countries' resolution to increase economic and commercial relations between the two sides.

Industry, mining sectors witness 18% growth in H1

Iranian Industry, Mining and Trade Minister Reza Rahmani announced that industry and mining sectors of the country have experienced a growth of 18 percent during the first half of the current Iranian calendar year (March 21-September 22) compared to the same period of time in the past year, IRNA reported on Saturday.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners