Iran's Copper Production Tops 1.1 Million Tons

EghtesadOnline: Major Iranian copper producers produced an aggregate of 1.17 million tons of copper concentrate in the last Iranian year (ended March 20) to register an increase of 3% year-on-year.

News ID: ۷۴۷۱۶۲

28 April 2019

Sarcheshmeh Copper Complex was the biggest producer with 701,700 tons, up 4% YOY; followed by Sungun Complex with 324,203 tons, up 4% and YOY, and Miduk with 148,583 tons, down 3% YOY, Iranian Mines and Mining Industries Development and Renovation Organization’s latest report shows.

Production in the month ending March 20 was 89,540 tons, down 2% YOY.

Sarcheshmeh Copper Complex and Khatoon Abad Copper Refinery produced an aggregate of 313,784 tons of copper anode during the year, up 56% YOY. Sarcheshmeh had the biggest share with 201,763 tons, up 125% YOY. Khatoon Abad produced 112,021 tons, up by 1% YOY, according to Financial Tribune.

Copper anode production during the 12th month stood at 27,425 tons, up 14% YOY.

Sarcheshmeh Copper Complex and Miduk Complex produced a total of 247,384 tons of copper cathode last year, up 54% YOY. Again, Sarcheshmeh had the largest share with 154,092 tons, while Miduk produced 93,292 tons.

Copper cathode output during the 12th month reached 23,955 tons, going up by 21% YOY.

A total of 6,835 tons of molybdenum were produced by Sarcheshmeh and Sungun (4,753 and 2,082 tons respectively) last year, which indicates a 14% decrease compared to the year before.

Molybdenum output during the month to March 20 totaled 509 tons, up by 30% YOY.

IMIMDRO’s latest report on mineral trade shows Iran exported 365,070 tons of copper and downstream products worth $917.53 million during the year to register a 52% decline in tonnage and 13% growth in value YOY. Copper and downstream products were the third major mineral commodity on the list of the country’s mineral trade.

On the other hand, copper and downstream products’ imports stood at 1,870 tons worth $17.42 million, indicating a 93.3% and 90.7% decline in tonnage and value respectively YOY.

Iran is home to 68 types of minerals with more than 37 billion tons of proven reserves and 57 billion tons of potential reserves.

According to the United States Geological Survey, Iran holds the world's largest zinc, ninth largest copper, 10th largest iron ore, fifth largest gypsum and barite, and 10th largest uranium reserves.

Overall, Iran is home to more than 7% of global mineral reserves.