‘Iran’s IMIDRO, German Aurubis to tap joint potentials’

The Islamic Republic of Iran and Germany’s Aurubis AG are set to look into ways of cooperating in the area of copper industry.

Mehdi Karbassian, director of Iran’s Mines and Mining Industries Development and Renovation (IMIDRO), a major state-owned holding company active in the mining sector, has announced a plan by a team of Germany’s Aurubis AG to visit Iran for economic cooperation in the near future.

The official pointed to his recent trip to Germany and his visit to Aurubis HQ in Hamburg, where he said German company officials pointed to their readiness to cooperate with Iran and invest in its copper industry, Tasnim news agency reported.

Karbassian said Aurubis, which is the largest copper producer in Europe and the biggest copper recycler in the world, declared its intention to send a team to Tehran in the near future when the two sides will discuss cooperation further.

He also referred to his earlier talks with authorities from Glencore Plc, a Swiss-based commodity trading and mining company, and Trafigura, a Dutch multinational commodity company, for cooperation in the industry.

Reports indicate Iran wants to increase its copper production tenfold by 2025 as part of its longterm economic plan.

It has already signed an agreement with Glencore to help the commodities miner and trader to develop the industry, according to the boss of the Iranian mining development company.

Iran has recently stepped up talks with potential foreign investors with an eye on developing its mining and metals industries.

The annual value of Iran’s mining and metals imports and exports reportedly amount to $11.5 billion at the moment, but the country seeks to up revenues from the sector, saying its potentials are worth more than crude oil.

By Press TV