Economy, Business And Markets
0

E. Azarbaijan Holds 1% of Global Copper Reserves

E. Azarbaijan Holds 1% of Global Copper ReservesE. Azarbaijan Holds 1% of Global Copper Reserves

Deputy governor of East Azarbaijan Province, Davood Behboudi, says the province has great industrial and mineral capacity, holding 1% of the global copper reserves, Mehr News Agency reported.

Behboudi added that 12.5% of the country’s metallic mineral as well as 26% of non-metallic reserves are found in East Azarbaijan. He called on the private sector to invest in exploration and extraction of the minerals.

Songoon copper mine, 130 kilometers from Tabriz, is the country’s second copper reserve after Sarcheshmeh in the southeastern Kerman Province. Songoon has 1 billion metric tons of copper ore in potential reserve, while the proven reserves stand at 796 million tons of ore with a grade of 61%. In addition to copper, the mine has molybdenum as well as gold and silver.  

According to the official, East Azarbaijan is home to decorative stones as well as base metals while sitting on the Silk Road is an advantage of investment in the province. The province is also the leading province in manufacturing industrial machinery.

Financialtribune.com