China invested USD 5 billion in Iran mining sector

Mr Karbasian while addressing China Investment Conference 2018 underway in Beijing said that "We are keen to increase our cooperation with Chinese companies in the field of finance and investment.”

The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and Chinese firms are cooperating closely to improve bilateral ties between the two countries, the official said.

Mr Karbasian said he had held a meeting with officials of China’s NFC firm during which the Chinese side said it would complete a major aluminum project in southern Iran by the end of the current Iranian calendar year (started on March 21, 2018).

The country does not have sufficient alumina production to meet the new plant’s demands, so again the Chinese are further involved in talks to build a new 2-million-ton per annum alumina refinery in Asaluyeh Bushehr Province.