Economy, Business And Markets

Iran Owns 3% of Global Copper Reserves

Iran Owns 3% of Global Copper ReservesIran Owns 3% of Global Copper Reserves

Iran’s copper reserves amount to 20 million tons, which is 2.9 percent of global reserves, according to a report released by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).  Recent discoveries have promoted Iran to the 10th spot among countries with most copper reserves. Chili owns by far the largest reserves, accounting for 27 percent globally and the equivalent of 190 million ton. Australia runs a far second with 87 million tons of copper reserves, followed by Peru, the US, Mexico, China and Poland.  Iran shares the 10th place with Congo and Zambia.  Over the past Iranian year, the country produced 191,000 tons of copper. Copper is after steel and aluminum the most-used metal globally. Consequently, Iran regards its copper reserves as strategic.