The National Iranian Copper Industries Company and its subsidiaries, including Sungun Complex, Miduk Complex and Sarcheshmeh Copper Complex, produced a total of 1.08 million tons of copper concentrate in the first 11 months of the current Iranian year (March 21, 2019-Feb. 19), remaining unchanged in output compared with last year’s similar period.
Production in the month ending Feb. 19 stood at 94,410 tons, marking a rise of 8% year-on-year, the Iranian Mines and Mining Industries Development and Renovation Organization’s latest report shows.
An aggregate of 274,250 tons of copper anode were produced during the period under review, down 4% YOY.
Copper anode production during the 11th month stood at 27,491 tons, down 4% YOY.
The production of copper cathode amounted to 224,331 tons during the 11 months, unchanged YOY.
Copper cathode output during the 11th month reached 18,946 tons, going down by 19% YOY.
Copper extraction stood at 156.07 million tons in 11 months, declining 3% YOY, as copper extraction totaled 13.39 million tons in the 11th month, down 4% YOY.
The production of copper sulfides amounted to 49.21 million tons during the 11 months, unchanged YOY.
Copper sulfide output during the 11th month reached 4.19 million tons, up by 12% YOY.
A total of 7,676 tons of molybdenum were produced during the 11-month period, which indicates a 21% increase YOY.
Molybdenum output during the month to Feb. 19 totaled 759 tons, up by 54% YOY.
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.
“With an annual production of 34.5 million tons, Iran is currently the world’s eighth biggest producer of copper in the world,” managing director of the National Iranian Copper Industries Company, Ardeshir Sa'd-Mohammadi, said. “With the development of mineral explorations, the country will soon ascend to the seventh ranking.”
*** Copper Sector Performance
According to the official, Iran’s copper reserves make up 4.15% of global copper reserves, Fars News Agency reported.
Iran's major Sungun Copper Mine’s reserves exceed 1.2 billion tons while those of Miduk Copper Mine surpass 500 million tons.
According to Sa'd-Mohammadi, the copper industry has a 50-million-ton share in Iran's annual mineral output.
He noted that Iran’s copper production is expected to surpass 260,000 tons by the end of the current fiscal year (March 19) and will exceed 300,000 tons next year (March 2021).
Iran's copper smelting capacity is expected to reach 400,000 tons—twice the current capacity—by the end of the current fiscal year, he added
Taking into account the development of copper mines of Der Alo Copper Mine, Darezar Copper Mine and Khatunabad (all three in Kerman Province) as well as new explorations, Sa'd-Mohammadi said the country’s copper reserves will last for the next 100 years at least.
Deputy Industries Minister Khodadad Gharibpour said $310 million worth of projects in the copper industry will have been inaugurated by March 19.
Exports of copper and downstream products in the 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 1,870 tons worth $17.42 million, indicating a 93.3% and 90.7% decrease 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.
A total of 56,000 tons of copper were exported from Iran during the first six month of the current Iranian year (March 21-Sept. 22), according to the managing director of National Iranian Copper Industries Company.
On July 3, 1972, Kerman Sarcheshmeh Copper Mines Company was incorporated and in 1976 it was renamed National Iranian Copper Industries Company, which encompasses all the operations of copper mines in the country.
The company undertakes, among other operations: To extract and operate copper mines; to produce high-grade copper ore and products such as cathode, slab, billet and 8-mm wires.
Sarcheshmeh and Miduk in Kerman and Sungun in East Azerbaijan are among the most important copper mines of the country.
