TEHRAN, Oct. 31 (Mehr News Agency) - The head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced on Wednesday that the copper industry is now completely privatized.

Ahmad-Ali Harati-Nik, also the deputy industries and mines minister, added that the shares of the National Iranian Copper Industries Company (NICIC) were offered in the Tehran Stock Exchange (TSE).

Sarcheshmeh copper mine in Iran

He noted that the ministry submitted the proposal of allotting the shares of the company to its retired staff to the cabinet.

Iran's annual copper production stands at 200,000 tons, the official said, adding the output will reach 400,000 tons by the end of Fourth Five-Year Socioeconomic Development Plan (2005-2010) by putting the related projects into operation.

The deputy minister stated that the main copper reserves are in Kerman Province, southeastern Iran.

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