By John Lee.
Bloomberg reports that Iranian miners are looking for $10 billion to develop a domestic aluminium (aluminum) industry.
Mehdi Karbasian, managing director of the state-owned Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) said Iran’s current production of 350,000 metric tons a year is below capacity of 470,000 tons due to of a shortage of bauxite and electricity, but said that with additional investment, Iran could boost output to 1.5 million tons by 2025.
Domestic aluminum production has been held back because a 25-year effort to develop a bauxite mine in Guinea has still not reached production. Bloomberg says that the 50-50 partnership with the Guinean government has been renewed for another 25 years, with Iran is now awaiting a consultant’s recommendation by September on how to make the mine operational.