NICICO Archives - Iran News Daily

NICICO exploratory excavations rise 20%

mahla — Mon, 13 Nov 2023 21:03:16 +0000

TEHRAN (Iran News) –The managing director of the National Iranian Copper Industries Company (NICICO) said the company has conducted 240,000 meters of exploratory excavation since the beginning of the current Iranian calendar year (March 21) which is 20 percent more than the figure for the previous year.

According to Amir Khorami-Shad, NICICO’s total exploratory excavation conducted in the current Iranian calendar year (ends in late March 2024) is expected to increase by 50 percent compared to the previous year, IRIB reported.

The official said the company managed to conduct 200,000 meters of exploratory drilling in the previous year.

Back in June, NICICO’s former head Ali Rostami said the company was following a new program to increase its annual revenues to $10 billion.

According to Rostami, based on the mentioned program, the country’s production capacity is going to increase by threefold and more than 50,000 people will be working in the industry.

Earlier in March, Rostami said the country’s copper production is going to reach one million tons in the next six years.

He noted that in case of reaching the above-mentioned output, the country’s copper export is also going to hit $10 billion.

According to Rostami, NICICO managed to export $1.6 billion worth of copper products in the Iranian calendar year 1400 (ended on March 20, 2022).

Iran saw its copper exports double in that year despite a series of bitter sanctions imposed by the United States aimed at hampering the Islamic Republic’s trade of lucrative metals.

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NICICO: Demand for copper exceeds supply

reporter 1222 — Mon, 30 Dec 2019 05:28:33 +0000

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.

“For the first time in the history of the country’s copper industry the sales of NICICO have outpaced the amount of supply,” said Ardeshir Sa’admohammadi on Sunday, Press TV reported.

The comments come amid an unprecedented boom in Iran’s metals and mining sector as the country seeks to diversify the economy away from oil.

Unlike oil sales which have stumbled due to US sanctions, Iran’s trade of metals has been spared of a series of similar bans enacted since May this year. That has been largely due to the fact that the United States has been unable to spot the original source of the cargoes exported from Iran via third countries.

Sa’admohammadi said another reason for Iran’s booming copper exports is a surging demand in the international markets as the precious metal is being increasingly used in industries that are gearing toward electrification.

Reports earlier this year suggested Iran was making huge investments for development of the copper industries located northwest of the country where the NICICO seeks easier access to the markets in Turkey and in Europe.

However, a bulk of the copper exports from Iran is still supplied through a traditional hub of mines and smelters located in Kerman, in the southeast of the country.

The NICICO chief said that more than €310 million had been spent on a massive copper production site that will come on line within the next few months. He said the project, located in an area some 80 kilometers to the west of Kerman, includes a smelter, an oxygen facility, an acid production unit and a warehouse.

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Iran copper industry to take bigger global share

reporter 1222 — Tue, 03 Dec 2019 06:55:54 +0000

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

IRNA said in a report that more than $3 billion will be invested in various Iran copper industry projects across the country in the next five years, allowing the country to have a better share of an international market that is facing a surging demand for the precious metal.

The report quoted the head of IMIDRO, Iran’s largest metals and mining sector group, as saying that Iran is aiming to increase both the output and the resource discovery activity in the copper industry.

Khodadad Gharibpour said more than $120 million was spent on a major project finished earlier this year to produce 610,000 tons of sulfuric acid, a key ingredient, and by-product in copper production, each year.

Gharibpour said activity was surging at three main copper hubs in southeastern and northwestern Iran.

Head of National Iranian Copper Industries Company (NICICO) also said that information from main production and distribution sites in Iran’s copper industry will soon be incorporated into a centralized system to allow the government and investors to have a transparent view of the situation in smelters, mines, refineries, and storage houses.

Ardeshir Sa’d-Mohammadi said the integrated system will be ready for use until March next year, enabling the NICICO to better introduce opportunities for investment in the copper sector to investors inside and outside of Iran.

Iran’s metals sector has witnessed a rapid expansion over the past two years as the government seeks to offset the impacts of a series of American sanctions on revenues that were once derived from oil.

The United States has targeted Iran’s trade of metals with a series of bans since May this year although experts believe the sanctions will fail to affect the current boom in production and exports of various metals from the country.

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Khatoonabad Smelter Development Project Starts

reporter 1222 — Sun, 04 Aug 2019 22:25:05 +0000

TEHRAN – The CEO of National Iranian Copper Industry Company (NICICO) says Khatoonabad smelter development project is one of the crucial developmental projects of the company in the current year, adding that the overhaul of the company with an eye to solve environmental problems and boosting the smelting capacity to 120,000 tons has begun since July 23.Dr. Ardeshir Sadd Mohammadi announced the beginning of the developmental project of Khatoonabad smelting plant, adding that according to the plans, the company has no concern over the decline in production in the current year, expressing hope that the production would even increase this year.

IRAN NEWS ECONOMIC DESK

He noted that due to the endeavors of the personnel of the company, NICICO would set a new record for production of cathode this year, adding that by increasing the capacity of Khatoonabad smelting plant from 80,000 to 120,000 tons, the total capacity for production of anode in Kerman Province will reach 400,000 tons and some of the concentrate which is needed for the projects will be provided from copper mines in Daraloo, Darehzar and Chah Firouz.

He also pointed to the simultaneous implementation of sulfuric acid project of Khatoonabad with capacity of 600,000 tons, adding that all standard points in the projects have been observed to minimize the environmental problems.

Saad Mohammadi added that by coming on stream of both projects in Khatoonabad, all would witness the copper industry becoming green and sustainable.

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Boosting Competitiveness in NICICO by Smartening the Financial System

reporter 1222 — Mon, 15 Jul 2019 22:08:46 +0000

Mr. Ardeshir Saad Mohammadi said that smartening the financial system and change in the structures of the units is one of the most important priorities of the NICICO.

IRAN NEWS ECONOMIC DESK

He went on to say that by smartening the financial system in the company, the level of efficiency in the investment will increase considerably along with creating transparency.

He noted that in the current condition and in the most optimistic condition, preparing a report on the final cost in the company depends on industrial accounting reports which are presented at the end of every season, adding that in order to compete in the international level, the company needs online checking of reports of final costs of the products which helps the company to monitor all effective factors for reducing the final costs of the products.

Saad Mohammadi noted that in the current condition and with fast management decisions, they could stop the waste of energy and decline in efficiency.

He reiterated that boosting efficiency and competitiveness, transparency and monitoring online final costs of the products are of the major advantages of smartening the financial system in the company.

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NICICO Among Top Five Most Active Companies in Stock Market

reporter 1222 — Tue, 25 Jun 2019 21:22:18 +0000

According to the latest report of Tehran Stock Market, the list of top fifty active companies in the capital market was announced for the first quarter of the current Iranian calendar year as four companies have been dropped from the list and four new companies have replaced them in the new list.

IRAN NEWS ECONOMIC DESK

Mobarakeh Steel Company of Isfahan, Persian Gulf Petrochemical Industries, National Iranian Copper Industries Company, Isfahan Refining Company and Golgohar have been the top most five active companies in the stock market in the first quarter of the year.

Bank Mellat, Pars Petrochemicals, Chadormalu, Tamin Petrochemical, Oil and Gas Investment, Bandar Abbas Refining Company, Tejarat Bank, MAPNA Group, Jam Petrochemicals, Mobile Telecommunications Company of Iran and Tehran Oil Refinery ranked sixth to tenth and they were among the most active companies in the capital market in the same period.

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