A Sudanese government firm announced yesterday that it owns the largest copper reserve in the world, The Anadolu Agency reported.
The Director of Ariab Mining Company Nasr-Eddin Al-Hussein said: "Al-Qutb Mine in the east of Sudan contains the largest copper reserve in the world," noting it contains about five million tonnes of the metal.
In a statement issued by the Sudanese ministry of minerals, Al-Hussein also that the same mine includes 140 tonnes of gold, 700,000 tonnes of zinc and 3,000 tonnes of silver.
Al-Hussein estimated the value of the mineral reserves in Al-Qutb Mine to be $17 million.
He revealed that talks with four international banks and sovereign funds to finance production projects in Al-Qutb are underway.
The talks, Al-Hussein said, would finish at the start of next year, with production expected to begin 14-18 months after the talks are completed.
Sudan has previously announced possession of large quantities of more than 30 minerals.