Iran’s second copper mine reports 3-fold growth in deposits

Iran’s second-largest copper mine has reported a three-fold increase in its ore deposits as the country moves ahead with plans to develop its untapped mineral resources.

News ID: ۲۰۰۰۵۹۴

09 January 2025

EghtesadOnline: Ina report released on Wednesday, the National Iranian Copper Industries Company (NICICO) announced that huge copper deposits had been discovered in Sungun mine in northwest Iran after a series of “shining exploration activities” in the area.

It said a certificate had been issued on December 28 by Iran’s Ministry of of Industry, Mine and Trade, stating that Sungun’s copper reserves reached 2.49 billion metric tons (mt), including 1.15 billion mt of proven reserves, with an average purity of 0.53% and a molybdenum content of 125 grams per ton, according to Press TV.

Based on previous estimates, Iran’s largest copper mine in Sarcheshmeh, located in southeast of the country, had a deposit of 1.2 billion mt of copper ore with a purity of 0.7%, making it one of the largest mines in the world.

NICICO and Ministry of Industry, Mine and Trade's local branch in East Azerbaijan province, where Sungun is located, have yet to announce plans to develop and extract the mine’s new resources.

Since coming under US sanctions in 2018, Iran has increased its investment in mining and metals projects amid efforts to diversify the economy away from crude oil revenues and to create more jobs for the country’s youth.

That comes as government figures published in recent years have pointed to a steady rise in the exports of metals and minerals from Iran. / Mehr