The copper industry is currently the most profitable sector to capitalize on compared to other base metals, says an official with the National Iranian Copper Industries Company, calling it a haven for investors.
“There are three factors at play when it comes to investment opportunities in the mining sector: the availability of mineral reserves, profitability of the sector in light of the global economy and the feasibility of financing the project,” Behrouz Rahmati was quoted as saying by ISNA.
The official noted that in view of Iran’s 20 billion tons of copper reserves and the ever-growing global demand for the metal, investors can rest assured that the copper sector is well suited for long-term investment.
According to Rahmati, the production cost for each ton of copper is close to $2,800, while copper prices have hovered around $7,200 per ton for the past nine years.
“NICICO has sold $18 billion worth of copper in the last nine years, 45% of which constituted pure profit,” he said.
Rahmati said Iran is home to about 4% of the world’s total copper reserves and accounts for close to 0.9% of annual global copper production.
