$294m Contract Signed for 100K Tons of Copper Cathode p.a.

A contract has been signed worth 80,000 billion rials ($294 million) for the annual production of 100,000 tons of copper cathode in Sungun Varzeqan Copper Complex, located in East Azarbaijan, between the National Iranian Copper Industries Company and Khatam Al-Anbia Construction Headquarters.
The project has the capacity to create direct employment for 500 people and indirect employment for 3,000, IRNA reported.
Sungun Complex is a subsidiary of NICICO and Khatam Al-Anbia is a major conglomerate in Iran.
“Sungun copper reserves have increased by 523 million tons in the past two years,” managing director of NICICO was quoted as saying by IRNA.
According to Ardeshir Sa’ad Mohammadi, Sungun copper reserves were estimated at 320 million tons three to four years ago, but currently they have risen to 2 billion tons, of which 1.3 billion tons are deemed “economically viable”.