Baku, Azerbaijan, Jan. 21
By Fatih Karimov - Trend:
The Iranian Mines and Mining Industries Development and Renovation, known as IMIDRO, will invest 400 billion rials plus €46 million (totally $170 million) in titanium processing project in Kahnouj mine, southeast of the country.
Mahmoud Eskandari, director of Kerman Province's industry, mining, and trade department, said the project is aimed to produce 130,000 metric tons of concentrate and 70,000 metric tons of pigment, Iran's IRNA news agency reported on Jan. 21.
The Kahnouj mine holds proven titanium reserve of 150 million metric tons. It is the largest titanium mine in Iran.
Titanium can be alloyed with iron, aluminum, vanadium, and molybdenum, among other elements, to produce strong, lightweight alloys for aerospace (jet engines, missiles, and spacecraft), military, industrial process (chemicals and petro-chemicals, desalination plants, pulp, and paper), automotive, agri-food, medical prostheses, orthopedic implants, dental and endodontic instruments and files, dental implants, sporting goods, jewelry, mobile phones, and other applications.
Iran's estimated and proven mineral reserves total 60 billion metric tons.
The country's mineral reserves are estimated to cost $750 billion.
Iran holds three percent of the world's mineral reserves which puts the country first in the Middle East and third in Asia.