The National Iranian Copper Industries Company's sales during the first two months of the year (ended May 21) totaled 69.38 trillion rials ($290 million), two times higher than the same period of last year, the company’s CEO says.
“Sales in the second month of the year accounted for 55.38 trillion rials [$230 million] of the total, which is also two times higher than the previous year’s corresponding period,” Ardeshir Sa'd-Mohammadi was also quoted as saying by MESPRESS website.
The company sold 29,300 tons of copper cathode during the two months under review, he added.
NICICO’s sales reached a record high of 419.4 trillion rials ($1.7 billion) in the last Iranian year (ended March 2021), indicating a 90% increase compared with the year before.
The company is the leading copper producer in the Middle East and North Africa region, as it holds close to 14% of Asia’s copper deposits and more than 4% of global reserves.
The functions of this company include extraction and operation of copper mines and production of high-grade copper products such as cathode, slab, billet and 8-mm wires.
Sarcheshmeh and Miduk in Kerman and Sungun in East Azarbaijan are among the most important copper mines of the country.
The National Iranian Copper Industries Company and its subsidiaries, including Sungun Complex, Miduk Complex and Sarcheshmeh Copper Complex, produced an aggregate of 355,612 tons of copper anode in the last fiscal year (March 2020-21), posting a growth of 17% compared with last year’s similar period.
The data were released in Iranian Mines and Mining Industries Development and Renovation Organization’s latest report.
Sarcheshmeh accounted for the largest portion of output during the year under review, with 234,067 tons, down 2% YOY.
Around 31,451 tons of copper anode were produced in the month to March 20, up 4% year-on-year. Sarcheshmeh accounted for 22,115 tons of the monthly output, up 3% YOY.
An aggregate of 1.2 million tons of copper concentrate were produced during the previous fiscal year, up 2% compared with the year before. Sarcheshmeh Copper Complex produced the largest share of the total output: 712,289 tons, up 1% year-on-year.
The output during the month ending March 19 stood at 101,989 tons, marking an 18% growth compared with the same period of last year.
The production of copper cathode hit 280,275 tons in the fiscal year under review, up 12% YOY.
Sarcheshmeh Copper Complex alone produced 176,300 tons of the total sum.
Around 24,495 tons of copper cathode were produced during the 12th month of the fiscal year, indicating a 5% decline compared with the same period of last year.
According to the United States Geological Survey, Iran holds the world's ninth largest copper reserves.
Iran holds about 4 billion tons of estimated copper reserves, according to the Geological Survey of Iran.
Sarcheshmeh and Miduk in Kerman, and Sungun in East Azarbaijan are among the most important copper mines of the country.
