Economy, Business And Markets

Copper Production Down

Copper Production DownCopper Production Down

More than 121 million tons of copper were extracted from Iran’s three largest copper mines, namely Sarcheshmeh, Sungun and Miduk, from March to December 2015, which is 664,000 tons less than the preceding year’s corresponding figure.

The decline in production comes against a backdrop of a 27% fall in global copper prices in 2015, which is expected to continue well into 2016, the Persian daily Donya-e-Eqtesad reported.

Earlier, Morad Alizadeh, managing director of National Iranian Copper Industries Company, said NICICO is to increase the export of copper cathode and concentrates to China in 2016 based on a recent agreement, to maintain its profit margin.