Copper production stood at 84,733 tons in the Iranian month ending Aug. 22, going up 13% year-on-year.
Iranian copper production reached an aggregate of 482,793 tons of copper concentrate during the first five months of the Iranian year (March 21-Aug. 22) to register a 1% fall compared with last year’s similar period, Iranian Mines and Mining Industries Development and Renovation Organization’s latest report shows.
Sarcheshmeh Copper Complex had the lion’s share with 282,393 tons, indicating a 1% decline YOY. Sungun Complex produced 140,353 tons, unchanged YOY, as Miduk Complex produced 60,047 tons to witness a 6% drop YOY.
Meanwhile, Sarcheshmeh Copper Complex and Khatoon Abad Copper Refinery produced an aggregate of 140,159 tons of copper anode during the period under review, up 18% YOY.
Sarcheshmeh had the biggest share with 98,161 tons, up 30% YOY. Khatoon Abad produced 41,998 tons, down by 3% YOY.
Copper anode production during the fifth month stood at 22,596 tons, up 3% YOY.
Sarcheshmeh Copper Complex and Miduk Complex produced a total of 110,388 tons of copper cathode during the period, up by 18% YOY. Again, Sarcheshmeh had the largest share with 71,936 tons as Miduk produced 38,452 tons.
A total of 3,267 tons of molybdenum were produced by Sarcheshmeh and Sungun (2,453 and 814 tons respectively) during the five-month period, which indicates a 13% increase YOY
Copper cathode output during the month under review reached 19,973 tons, going up by 1% YOY.
A total of 3,267 tons of molybdenum were produced by Sarcheshmeh and Sungun (2,453 and 814 tons respectively) during the five-month period, which indicates a 13% increase YOY.
Molybdenum output during the month totaled 555 tons, up by 13% YOY.
According to the United States Geological Survey, Iran holds the world's ninth largest copper reserve.
The United States imposed exclusive sanctions on Iran's industrial metals in May.
"These were existing sanctions that had been waived under the nuclear deal that are now being reimposed," 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 in the last Iranian year (ended March 20) 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 1,870 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.
