The National Iranian Copper Industries Company and its subsidiaries, namely Sungun Complex, Miduk Complex and Sarcheshmeh Copper Complex, produced a total of 804,480 tons of copper concentrate during the first eight months of the current Iranian year (March 20-Nov. 20) to register a 1% growth 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 Copper Complex produced the largest share of the total output, with 477,718 tons, up 1% year-on-year.
Copper concentrate collective output during the month to Nov. 20 stood at 97,665 tons, marking a 3% fall compared with the same period of last year.
A total of 235,339 tons of copper anode were produced during the eight months, up 16% YOY.
Sarcheshmeh Copper Complex accounted for 155,589 tons of the total sum and Khatoonabad Copper Cathode Production Plant produced 79,808 tons of copper anode during the same period, up 79,808.
Around 30,287 tons of copper anode were produced in the month ending Nov. 20, up 44% year-on-year. Sarcheshmeh accounted for 19,666 tons of the output during the same month, up 2%.
The production of copper cathode hit 183,327 tons in the eight-month period, up 5% YOY.
Sarcheshmeh Copper Complex and Miduk Complex accounted for 111,339 tons and 64,014 tons of total copper cathode output, respectively.
Around 20,597 tons of copper cathode were produced during Oct. 22-Nov. 20, indicating a 5% growth compared with the same period of last year.
A total of 4,652 tons of molybdenum were also produced during the eight-month period, IMIDRO data show, down 14% compared with the same period of last year.
Molybdenum output in the month ending Nov. 20 amounted to 563 tons, down 29%.
“NICICO plans to increase copper concentrate output by 900 million tons to reach 2 million tons in mid-term,” says Behrouz Rahmati, an official with the company.
"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 so that it covers a parallel development for all groups of products," Rahmati was quoted as saying by ILNA.
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, he added.
Aaccording to Rahmati, the development of refinery sites is the company's next priority and 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 NICICO is set to finalize 30 projects by the end of the current fiscal year (March 2021).
NICICO 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.
According to the Geological Survey of Iran, Iran holds about 4 billion tons of estimated reserves.
According to the United States Geological Survey, Iran holds the world's ninth largest copper reserves.
