Iranian copper concentrate production reached 398,060 tons in the first four Iranian months (March 21-July 22) to register a decline of 4% compared with last year’s similar period.
Production in the month ending July 22 was 100,136 tons, remaining unchanged year-on-year, Iranian Mines and Mining Industries Development and Renovation Organization’s (IMIDRO) latest report shows.
Sarcheshmeh Copper Complex had the lion’s share with 238,995 tons, indicating a 3% decline YOY. Sungun Complex produced 111,079 tons, down by 5% YOY as Miduk Complex produced 47,986 tons to witness a 6% drop YOY.
Meanwhile, Sarcheshmeh Copper Complex and Khatoon Abad Copper Refinery produced an aggregate of 117,563 tons of copper anode during the period, up 21% YOY. Sarcheshmeh had the biggest share with 77,962 tons, up 25% YOY while Khatoon Abad produced 39,601 tons, up 15% YOY.
Copper anode production during the fourth month stood at 28,169 tons, up 8% YOY.
Sarcheshmeh Copper Complex and Miduk Complex produced a total of 90,415 tons of copper cathode during the period, up by 22% YOY. Again, Sarcheshmeh had the largest share with 59,302 tons as Miduk produced 31,113 tons.
Copper cathode output during the fourth month reached 22,943 tons, going up by 10% YOY.
Sarcheshmeh Copper Complex, Sungun Complex and Miduk Complex extracted an aggregate of 57.23 million tons of copper in the four months, down 6% YOY.
Copper extraction during the fourth month stood at 14.93 million tons to pose 1% decrease YOY.
Sarcheshmeh Copper Complex, Miduk Complex and Sungun Complex produced a total of 18.38 million tons of sulfide ores in four months, down 3% YOY. Again, Sarcheshmeh had the largest share with 10.75 million tons (unchanged YOY), as Sungun produced 4.96 million tons (down 6% YOY) and Miduk produced 2.65 million tons (down 10% YOY).
Sulfide ore output during the fourth month reached 4.83 million tons, remaining unchanged YOY.
A total of 2,712 tons of molybdenum were produced by Sarcheshmeh and Sungun (2,047 and 665 tons respectively) during the four-month period, which indicates a 13% increase YOY.
Molybdenum output during the month to July 22 totaled 587 tons, down by 8% YOY.
According to the United States Geological Survey, Iran holds the world's ninth largest copper reserves.
The United States imposed exclusive sanctions on Iran's industrial metals in May.
"These were sanctions waived under the nuclear deal, which are now being reimposed," said President of Iran Copper Association Bahram Shakouri was quoted as saying by Fars News Agency.
“Iran’s metal exports were usually through third-party exports made by an exporter or manufacturer on behalf of another exporter or exporters. Therefore Washington’s new sanctions won’t amount to much, but it could carry some risks and costs.”
Exports of copper and downstream products last Iranian year (ended March 20, 2019) stood at 365,070 tons worth about $917.53 million, down by 52% in tonnage and up by 13% in value YOY.
Copper and downstream products’ imports stood at 18,700 tons worth $17.42 million, indicating a 93.3% and 90.7% decline in tonnage and value respectively YOY.
Copper and downstream products were the third major mineral commodity on the list of the country’s mineral trade.
