Economy, Business And Markets

$200m for Kahnooj Titanium Mine

$200m for Kahnooj Titanium Mine  $200m for Kahnooj Titanium Mine

Around $200-million has been invested in Kahnooj titanium mine, IRNA quoted the head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) as saying in the southeastern province of Kerman on Wednesday.

The mine has a capacity to annually produce 130,000 metric tons of titanium concentrate as well as 70 metric tons of titanium slag pigment, said Mahmoud Eskandari.

The official added that the mine has 150 million metric tons of proven reserves while the potential reserve is estimated to be around 400 million metric tons, making it the biggest titanium mine in the country.

The project is supported by the minister of industry, mine, and trade as well as the IMIDRO and provincial officials and now the construction of the factories for slag pigment and the mineral processing units have been put out to tender.

According to Eskandari, a 1,000-megawatt power plant in Kahnooj is also expected to be built to provide electricity for the titanium mine.

With the new industrial complex, which produces 730 metric tons of titanium every year, the country will no more need to import 50,000 metric tons of titanium slag (dioxide titanium) which is widely used in the paint industry.