A Thursday report by the IRIB News said the new copper cathode plant, located in Varzaqan region in East Azerbaijan province, will be able to produce 3,000 metric tons (mt) of copper cathode per year.

The plant uses heap leaching method to process 14 million mt of copper ore per year, said the report.

The plant has created 175 permanent jobs and another 525 jobs on the wider industrial sector. The government has spent 15 trillion rials ($30 million) to open the project.

Iranian president Ebrahim Raisi, who was on a provincial trip to East Azerbaijan, used a video conference link to open the project.

Raisi had promised in a previous trip to East Azerbaijan that he would make the preparations for the launch of an independent company in the region to control the Sungun copper mine which is the largest open-cast copper mine in Iran.

Sungun had been controlled by National Iranian Copper Industries Co. (NICICO) a company that is mostly focused on vast copper mines and smelters in Iran’s southeastern province of Kerman.

Raisi said in a gathering of people in the East Azerbaijan’s provincial capital of Tabriz on Thursday that an independent company had been set up to control the copper industry in the region.

He said the company will spend its entire revenue in projects in East Azerbaijan and will operate independent of the NICICO.

The post Major Copper Smelter Opened in Iran’s Azerbaijan appeared first on Iran News Daily.

NICIC carried out 28,000 meters of deep drilling to identify new copper reserves in East Azarbaijan’s Sungun copper mine which resulted in the discovery of one billion tons of new reserves, Ali Rostami said on Sunday.

According to Rostami, with the discovery of the mentioned reserves, the total in-place reserves of the mentioned mine have increased from four billion to over five billion tons.

He put the value of the discovered reserves at over $50 billion, saying that the company is taking the necessary measures to begin executing development operations in the said mine.

Rostami stated that with the identification of these new reserves, the resources of the Sungun mine have grown by more than 25 percent, adding: “A one-billion-ton increase in resources is unique in its kind and is considered a huge discovery, although estimates show that the mine’s reserves maybe even more than what we have already discovered.”

Back in April 2021, NICIC’s former Managing Director Ardeshir Sa’d-Mohammadi announced the discovery of yet another one billion of new copper reserves across the country.

The official put the country’s total copper reserves at 40 billion tons, saying that Iran currently has the world’s seventh-largest copper reserves.

Having 81 different types of minerals, Iran is one of the top 10 mineral-rich countries across the globe. In this regard, the Iranian government has been seriously pursuing several programs for promoting the mining sector as a major contributor to the country’s economic growth.

The total proven reserves of Iran’s mines are estimated at about 60 billion tons, which is expected to reach more than 100 billion tons with the implementation of the Industry, Mining, and Trade Ministry’s exploration programs over 500,000 square kilometers of new mineral zones.

The post 1b tons of new copper reserves discovered in Iran appeared first on Iran News Daily.

Production of copper concentrate stood at 105,595 tons in the third month of this year, which was five percent more than the figure for the same month of the previous year.

The periodical reports and statistics indicate that Iran’s metals sector is progressing both in terms of production and export despite the limitations imposed by the U.S. sanctions.

The country’s copper industry is moving forward noticeably, as some outstanding projects are implemented.

Meanwhile, in early April, the managing director of National Iranian Copper Industries Company (NICIC) announced the discovery of one billion tons of new copper reserves in the country.

NICIC carried out 101,000 meters of deep drilling to identify new copper reserves across the country in the previous Iranian calendar year (ended on March 20), which resulted in the discovery of one billion tons of new reserves, Ardeshir Sa’d-Mohammadi said in a press conference.

Sa’d-Mohammadi put the value of the discovered reserves at 350 trillion rials (about $8.3 billion).

According to the official, NICIC had also discovered 523 million tons of copper reserves across the country during the Iranian calendar year 1398 (March 2019- March 2020).

Considering the new discoveries, NICIC’s total copper reserves across the country have currently surpassed eight billion tons.

The official put the country’s total copper reserves at 40 billion tons, saying that Iran currently has the world’s seventh-largest copper reserves, and hopefully the country will climb to sixth place in the current Iranian calendar year.

Sa’d-Mohammadi further mentioned the new record achieved in the country’s copper cathode production and noted that over 280,000 tons of the mentioned product were produced in the country during the previous year which was 12 percent more than the preceding year.

Pointing to the NICIC’s new projects for the current year, the official noted that three major copper-related projects will go operational in the current year which is going to add more than 400,000 tons to the country’s copper concentrate output, boosting the company’s annual incomes by $800 million.

According to Sa’d-Mohammadi, NICIC has defined more than €2.4 billion plus 300 trillion rials (about $7.1 billion) worth of projects to be implemented over the next four years, which will increase the company’s total copper concentrate capacity to 2.3 million tons.

He further noted that the country’s copper exports increased in the previous year despite the negative impacts of the coronavirus pandemic and the U.S. sanctions.

The post +320,000 tons of copper concentrate produced appeared first on Iran News Daily.

Production of copper concentrate stood at 106,487 tons in the second month of this year, with no change form that of the same month of the previous year.

The periodical reports and statistics indicate that Iran’s metals sector is progressing both in terms of production and export despite the limitations imposed by the U.S. sanctions.

The country’s copper industry is moving forward noticeably, as some outstanding projects are implemented.

Meanwhile, in early April, the managing director of National Iranian Copper Industries Company (NICIC) announced the discovery of one billion tons of new copper reserves in the country.

NICIC carried out 101,000 meters of deep drilling to identify new copper reserves across the country in the previous Iranian calendar year (ended on March 20), which resulted in the discovery of one billion tons of new reserves, Ardeshir Sa’d-Mohammadi said in a press conference.

Sa’d-Mohammadi put the value of the discovered reserves at 350 trillion rials (about $8.3 billion).

According to the official, NICIC had also discovered 523 million tons of copper reserves across the country during the Iranian calendar year 1398 (March 2019- March 2020).

Considering the new discoveries, NICIC’s total copper reserves across the country have currently surpassed eight billion tons.

The official put the country’s total copper reserves at 40 billion tons, saying that Iran currently has the world’s seventh-largest copper reserves, and hopefully the country will climb to sixth place in the current Iranian calendar year.

Sa’d-Mohammadi further mentioned the new record achieved in the country’s copper cathode production and noted that over 280,000 tons of the mentioned product were produced in the country during the previous year which was 12 percent more than the preceding year.

Pointing to the NICIC’s new projects for the current year, the official noted that three major copper-related projects will go operational in the current year which is going to add more than 400,000 tons to the country’s copper concentrate output, boosting the company’s annual incomes by $800 million.

According to Sa’d-Mohammadi, NICIC has defined more than €2.4 billion plus 300 trillion rials (about $7.1 billion) worth of projects to be implemented over the next four years, which will increase the company’s total copper concentrate capacity to 2.3 million tons.

He further noted that the country’s copper exports increased in the previous year despite the negative impacts of the coronavirus pandemic and the U.S. sanctions.

The post Nearly 215,000 tons of copper concentrate produced appeared first on Iran News Daily.

The country has produced 49,989 tons of copper cathode during the tow-month period of this year.

Production of copper cathode has also risen one percent in the second month of this year, as 25,373 tons of the product was produced in the second month

The periodical reports and statistics indicate that Iran’s metals sector is progressing both in terms of production and export despite the limitations imposed by the U.S. sanctions.

The country’s copper industry is moving forward noticeably, as some outstanding projects are implemented.

The country has posted outstanding figures in terms of copper cathode production and export.

Copper cathode is the primary raw material input for the production of copper rod for the wire and cable industry.

In early April, the managing director of National Iranian Copper Industries Company (NICIC) announced the discovery of one billion tons of new copper reserves in the country.

NICIC carried out 101,000 meters of deep drilling to identify new copper reserves across the country in the previous Iranian calendar year (ended on March 20), which resulted in the discovery of one billion tons of new reserves, Ardeshir Sa’d-Mohammadi said in a press conference.

Sa’d-Mohammadi put the value of the discovered reserves at 350 trillion rials (about $8.3 billion).

According to the official, NICIC had also discovered 523 million tons of copper reserves across the country during the Iranian calendar year 1398 (March 2019- March 2020).

Considering the new discoveries, NICIC’s total copper reserves across the country have currently surpassed eight billion tons.

The official put the country’s total copper reserves at 40 billion tons, saying that Iran currently has the world’s seventh-largest copper reserves, and hopefully the country will climb to sixth place in the current Iranian calendar year.

Sa’d-Mohammadi further mentioned the new record achieved in the country’s copper cathode production and noted that over 280,000 tons of the mentioned product were produced in the country during the previous year which was 12 percent more than the preceding year.

Pointing to the NICIC’s new projects for the current year, the official noted that three major copper-related projects will go operational in the current year which is going to add more than 400,000 tons to the country’s copper concentrate output, boosting the company’s annual incomes by $800 million.

According to Sa’d-Mohammadi, NICIC has defined more than €2.4 billion plus 300 trillion rials (about $7.1 billion) worth of projects to be implemented over the next four years, which will increase the company’s total copper concentrate capacity to 2.3 million tons.

He further noted that the country’s copper exports increased in the previous year despite the negative impacts of the coronavirus pandemic and the U.S. sanctions.

The post Production of copper cathode up 16% in 2 months yr/yr appeared first on Iran News Daily.

IRAN NEWS ECONOMIC DESK

TEHRAN – The value of Iran’s copper and downstream products has touched over $457.5m in the first seven months of the current year which shows 42 percent decline comparing to the same period last year.

According to the latest data released, the volume of exports of copper and downstream products has been around 100,164 tons in seven months which shows 63 percent fall comparing to the same period last year.

The total export of mineral products in seven months has been around 21.17m tons worth of $3.04b.

The data also shows a 23 percent decline in the value of copper imports. According to the report, the amount of imports of copper and downstream products has been around 732,000 tons which shows 26 percent decline comparing to the same period last year. The value of copper imports has also stood at $8m which indicates 33 percent decline in terms of value.

Studies show that Iran has 4.2 percent of world copper reserves and now by increase of 528m tons of its reserves ranks seventh in the world.

A senior official at Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Iran’s largest metals and mining holding, has recently said that the value of exports for main copper products reached more than $1 billion over the past year.

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TEHRAN (Iran News) – The CEO of the National Iranian Copper Industry Company (NICICO) said that for the first time in the country’s history, copper is facing a higher demand than the current supply despite a series of US sanctions that seek to stifle Iran’s lucrative trade of metals.

The post NICICO: Demand for copper exceeds supply appeared first on Iran News Daily.

TEHRAN (Iran News) – A report shows Iranians are making heavy investments in the copper industry to make it more competitive at the global level.

The post Iran copper industry to take bigger global share appeared first on Iran News Daily.

According to the latest data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) the companies under Iran National Copper Company produced 94,116 tons of copper concentrate during the first month of the preceding year.

As Iranian Deputy Industry Minister Mehdi Karbasian announced earlier, Iran’s annual production of copper concentrate witnessed a six-percent-growth in the previous Iranian calendar year 1396.

The post Copper concentrate output increases 15% in a month appeared first on Iran News Daily.