NICICO’s Production, Sales at Record Highs

National Iranian Copper Industries Company recorded its highest concentrate output in the last fiscal year (ended March 20, 2017) by producing 1.07 million tons of the material, recording a 9.51% growth compared to the year before, according to NICICO’s Managing Director Ahmad Moradalizadeh. The company also set a new record in sales by selling 70.1 trillion rials ($1.85 billion) worth of copper products last year. NICICO is the leading copper producer in the Middle East and North Africa region, as the mines it operates holds close to 14% of Asia’s copper deposits and about 3% of global reserves. Iran holds some 4 billion tons of estimated copper reserves, according to the Geological Survey of Iran, Mes Press reported.