Economy, Business And Markets

Copper Exports to Reach $2b

Copper Exports to Reach $2bCopper Exports to Reach $2b

According to the country’s plans, copper exports will hit $2 billion within the few next years, Ahmad Morad Alizadeh, managing director of National Iranian Copper Industries Company (NICICO).” “The current trend of increasing demand will radically change output levels in the next 10 years, with copper consumption in Iran reaching about 200,000 tons,” IRIB quoted Alizadeh as saying. He suggested that Iran will be able to increase production to 400,000 tons within the next five years, and then an extra 200,000 tons will be exported overseas. As the country’s biggest copper producer, NICICO has numerous responsibilities including extraction and utilization of copper mines, production of copper concentrates and manufacturing copper products such as cathodes, slabs, billets and 8mm wire rods.