TIRANA, Aug. 25 (Xinhua) -- Albania's copper reserves reach up to 17.5 million tons per year, an official document released by Albanian Ministry of Energy and Industry (MEI) showed Friday.
Based on such document, the ministry informed it had opened invitations for expression of interest from domestic and foreign enterprises to invest in the copper industry in Albania.
It also noted in its document that the copper reserves are mainly situated in northern Albania, such as Puke and Mirdita extending further to the center of the country as Elbasan district and in southeast, mainly in Korca region.
Albanian authorities are looking for new investments in this sector in order to give a boost to the exploitation of copper reserves.
"Investments in this field would help in maximizing the worth of this wealth and would prove beneficiary to the country's economy, would increase budget revenues, exports as well as ease social problems of the regions possessing this mineral, mainly through employment," the document cites.
The ministry noted that special importance would be given to the bidders who have longer experience in managing mineral and processing industry.
Financial and human capital to manage this wealth, optimum exploitation of copper values by enabling both the complex exploitation of other useful elements despite copper, such as gold, silver, selenium and platinum group as well as boosting copper alloys like wires and cables or brass and bronze are other requirements that the interested parties should meet, the ministry said.
According to MEI, advantage will be given to that company who offers to undertake the entire processing cycle from the mine to the final products of electrolytic copper, wires and cables.
Albania is rich in chrome, coal, iron-nickel and copper. Chrome mineral is the most exploited one in the country while there are few investments in copper. This is the reason why the Albanian government is now seeking to attract businesses which might invest in copper mines and further develop the exploitation of this mineral.