Group Others
IMIDRO: Iran, Algeria enjoying proper capacities for cooperation
(Minews) - Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced that Iran and Algeria are the two countries which enjoy capacities in mine and mining industries, adding that ground is appropriate for the expansion of bilateral cooperation.

The information released recently on cooperation of this country with Iran indicates that Algeria is in need of copper to supply the raw materials for its industry and Iran can meet this demand.

Algeria as one of the countries possessing mineral reserves in the year 2013 exploited and produced different minerals such as gold at 140 kg, silver at 27 kg, iron and raw steel about 800 thousand tons, kaolin at 42.5 thousand tons, barite at 30.2 thousand tons, bentonite at 27.6 thousand tons and cement at 18 million tons.

Algeria has recently allocated about 420 billion for exploitation of the large iron ore mines in Tindouf Province with a reserve of 2.5 billion tons.

The north African country allocates $10 billion for the import of iron ore while it produces about 5 million tons of iron ore annually.

Algeria is the 10th producer and 5th exporter of phosphate in the world and its gold mines which are located in the southern province have the possibility of yielding 5 to 6 tons of pure gold.

Volume of Iran-Algeria trade in 2014 amounted to 47 million of which 97% belonged to imports from Iran.

Algeria’s exports to Iran last year amounted to $ 120 thousand which were mainly equipment and industrial machinery.
Publish date : Saturday 11 July 2015 20:01
Story Code: 25959
Source : IRNA