Economy, Business And Markets

1% Growth in Copper Production

1% Growth in Copper Production1% Growth in Copper Production

Major copper companies produced more than 728,600 metric tons of copper concentrate during the past 11 months of the outgoing Iranian calendar year (to end March 20), IRNA cited a report by the Iranian Mines and mining Industries Development and Renovation Organization (IMIDRO) on Monday.

The production indicates 1% growth compared to the last year’s similar 11-month period, according to the report, adding that more than 211.6 tons of copper anodes and over 176.7 tons of copper cathodes were produced by Sarcheshmeh and Meydook copper complexes in the same duration, registering 2% and 3% growths respectively. Sarcheshmeh, Sungun, and Meydook mines also extracted 33.38 million tons of copper sulfide minerals.

The three mines extracted a combined sum of 150 million tons of ore during the period, which shows a 19% increase compared to similar period last year. Sarcheshmeh mine, based on the report, produced over 40,000 tons of copper slabs, blooms, and billets as well as 5,380 tons of molybdenum concentrate and 498 tons of gold and silver sludge.

Based on a medium-term planning for the copper sector, cathode production is supposed to gradually increase to 380,000 tons within the next four years.