Reaching an annual export worth of copper, amounting to $10 billion is 'feasible', according to the head of the Iran Copper Association, Bahram Shakouri.

In an interview with IRNA, Shakouri stated that the national copper industry would require not mere development but also support in order to generate $10 billion that could serve as foreign currency for Iran. 

By applying new innovative methods, he added that taking advantage of the available copper mineral will increase four times by the year 2050 - highlighting that copper mines can serve as huge investments for the country and thus need to be taken more seriously. 

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Shakouri concluded by urging relevant officials to look into the necessary steps to materialize the requirements of the copper sector and collaborate with the private sector in turn. 

As Iran is known for mineral-rich land, just a month ago, the first lithium deposit was discovered by Iranian geologists in the northwestern province of Hamadan, and the reserves are assessed at 8.5 million tonnes, a senior Industry Ministry official said.

"Iran is one of the few countries where adequate reserves of rare earth elements and precious metals are available. The discovery of the first lithium deposit in the province of Hamadan promises the discovery of a deposit of other precious metals in this province," the Fars news agency quoted the official as saying, adding that its reserves are estimated at 8.5 million tonnes.