Economy, Business And Markets

Copper Cathode Output Near 400,000 Tons

Copper Cathode Output Near 400,000 TonsCopper Cathode Output Near 400,000 Tons

The production of copper cathodes during the first eight months of the Iranian calendar year (March 21-November 21) reached 129,369 metric tons, according to a report by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

According to the report, a total of 156,993 metric tons of copper anodes were produced while the figure for copper concentrate stood at 523,598 metric tons during the same period, ILNA reported.

During the period, Iran’s copper companies also produced 24,120,159 metric tons of copper sulfide ore, 3,844 metric tons of molybdenum concentrate, and 26,508 metric tons of copper rods.

The development plans, due to be implemented in the next two years, are aimed at increasing annual copper cathode production to 400,000 metric tons in four years from the current 200,000 tons.

The state-owned National Iranian Copper Industries Company (NICICO) is responsible for extraction and utilization of copper mines across the country, production of copper concentrates and manufacturing copper products such as cathodes, slabs, billets and wire rods.

Over 500 deposits of copper are known to exist across the country but only 100 of them have been included in the national scientific survey and exploration projects. There are currently 10 active copper mines across the country.

Iran with roughly one percent of the world population owns more than 7 percent of the total global mineral reserves, a report by the Parliament Research Center said in July.

According to the report, Iran holds around 4 billion tons of proven copper reserves, standing 2nd in the world in this regard.

Iran is among the largest mineral producers in the world with about 70 different types of minerals extracted from its mines.