The National Iranian Copper Industries Company carried out more than 51,000 meters of deep explorations in copper ore mines in the first seven months of the current Iranian year (March 20-Oct. 21).
“The figure indicates a 20% growth compared with the previous year's corresponding period,” Shahriyar Motevakel, the head of NICICO's Exploration Department, was quoted as saying by ILNA.
“The increase in exploration activities comes despite the outbreak of coronavirus, which resulted in suspension of our activities during the first two months of the year.”
The company is currently undertaking exploration activities over 68,000 square kilometers in five zones located in Kerman, West Azarbaijan, Qom and Khorasan Razavi provinces.
"We also plan to start exploration in Ardabil, South Khorasan, East Azarbaijan and Sistan-Baluchestan provinces," he said.
Major copper mines in Iran include Sarcheshmeh, Sungun and Miduk, which are owned and operated by NICICO, with the latter being the first copper cathode plant to have been built outside the Sarcheshmeh Copper Complex after the 1979 Islamic Revolution.
The National Iranian Copper Industries Company and its subsidiaries, including Sungun Complex, Miduk Complex and Sarcheshmeh Copper Complex, produced a record high of 706,789 tons of copper concentrate during the seven months to register a 5% growth compared with last year’s similar period.
According to NICICO Managing Director Ardeshir Sa'd-Mohammadi, the output during the month ending October 22 stood at 107,191 tons, marking a 9% increase compared with the same period of last year, the Iranian Mines & Mining Industries Development & Renovation's news portal reported.
NICICO also produced a total of 162,731 tons of copper cathode during the seven months to Oct. 21, registering a 7% growth compared with last year’s corresponding period.
An aggregate of 205,109 tons of copper anode were produced during the period under review, up 10% YOY.
NICICO is the leading copper producer in the Middle East and North Africa region, as its mines hold close to 14% of Asia’s copper deposits and about 3% of global reserves.
Iran holds about 4 billion tons of estimated copper reserves, according to the Geological Survey of Iran.
“National Iranian Copper Industries Company plans to increase copper concentrate output by 900 million tons to reach 2 million tons,” Behrouz Rahmati, an official with the company, was quoted as saying by ILNA.
"Our concentrate production capacity is set to reach 2.6 million tons in NICICO's 2030-31 Development Plan … The development plan has been revised recently to cover a parallel development for all groups of products."
However, concentrate production has been prioritized in the company's outlook, taking into account the "60% marginal revenue" that the product generates.
“As per the plan, NICICO's copper cathode production capacity should exceed 550,000 tons by 2031,” Rahmati added.
“The development of refinery sites is the company's next priority. The marginal revenue of developing refinery plants is about 20%."
NICICO also plans to finalize the development of the third phase of Sungun copper concentration plant, the second phase of Miduk Complex and the third phase of Sarcheshmeh Copper Complex.
Rahmati noted that the National Copper Company is set to finalize 30 projects by the end of the current Iranian year.
