Major Copper Mine Plans Capacity Expansion

Established in 1972, the complex operates the open cast Sarcheshmeh Copper Mine in Kerman Province, which is considered to be the second largest copper deposit worldwide. The mine was first established by the American Anaconda Group until the 1979 Islamic Revolution in Iran, which led to the nationalization of assets and establishment of National Iranian Copper Industries Company. NICICO is now the leading copper producer in the Middle East and North Africa region, as it holds close to 14% of Asia’s copper deposits and about 3% of global reserves. The company operates several other copper mines in the country. According to the Geological Survey of Iran, Iran holds about 4 billion tons of estimated reserves, Financial Tribune reported.