Copper cathode output increases 6% in 8 months on year

January 3, 2022 - 11:17

TEHRAN- Production of copper cathode in Iran rose 6.2 percent in the first eight months of the current Iranian calendar year (March 21-November 21, 2021), as compared to the same period of time in the past year.

As reported, the country produced 202,000 tons of copper cathode in the eight-month period of this 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.

Iran 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.

Back in April, 2021, 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, 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 $1.206 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.

According to the official, NICIC has defined more than €2.4 billion plus 300 trillion rials (about $1.034 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.

MA/MA

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