TEHRAN (Tasnim) � The National Iranian Copper Industries Company (NICICO) and Germany�s MKM Mansfelder Kupfer und Messing GmbH, which is one of the largest European holding companies, signed a one-billion euro deal to develop cooperation in copper industry.


�The MKM has expressed its willingness to invest in Iran�s mining projects and particularly downstream industries up to one billion euros,� Mohammad Esfandiar, a member of the NICICO board of directors, announced.


The NICICO is after �trade and technological interaction� with the world, branding and presence in international markets, the official noted.

The deal comes against the backdrop of a new wave of interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a comprehensive deal on Tehran's nuclear program and implemented it on January 16.

The comprehensive nuclear agreement terminated all nuclear-related sanctions imposed on Iran after coming into force.

Earlier in July 2015, German Vice-Chancellor and Minister for Economic Affairs and Energy Sigmar Gabriel visited Iran at the head of a high-ranking trade delegation, including the representatives of 20 German economic giants, and held meetings with senior Iranian officials to develop economic cooperation between the two countries.

By Tasnim News Agency