Wednesday 26 September 2018

Iranian firm seeks partners for copper, steel projects

TEHRAN, November 9, 2016

A private Iranian company is seeking joint venture partners to help develop copper, steel and other projects in the country, said a senior official in a report.

Mahan Company for Mines and Industries Development (Macmid) has two copper mines already under development, the Chah Firuzeh mine and the Daralou mine. They are being developed with a group that includes state-owned National Iranian Copper Industries, Ebrahim Sadeqi, managing director of Macmid, was quoted as saying in an Iran Daily News report.

The group is seeking $600 million from one or more international joint venture partners to help develop the two copper mines and associated processing plants, each aiming to produce about 26,000 tonnes of copper a year by 2019, it said.

Sadeqi said that the construction of the Chah Firuzeh mine is about 20 per cent complete, and Daralou is around 35 per cent complete.

Macmid was set up in 2013 as a private joint stock company, backed by Iran's Tourism Financial Group.

Tags: | Steel | Iran | Copper | Projects | Partners | firm | JV |

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