Iran Copper Production Exceeded 200K Tons in Two Months

EghtesadOnline: Iranian copper concentrate production totaled 203,072 tons during the first two fiscal months (March 21-May 21) to register a decline of 5% compared with last year’s similar period.

News ID: ۷۴۷۶۰۰

18 June 2019

Production in the month ending May 21 was 100,910 tons, down 4% YOY, Iranian Mines and Mining Industries Development and Renovation Organization’s latest report shows.

Sarcheshmeh Copper Complex and Khatoon Abad Copper Refinery produced a total of 57,866 tons of copper anode during the period, up 28% YOY. The former had the biggest share with 37,427 tons, up 33% YOY. Khatoon Abad produced 20,439 tons, up by 19% YOY.

Copper anode production during the second month stood at 26,598 tons, up 30% YOY, Financial Tribune reported.

Sarcheshmeh Copper Complex and Miduk Complex produced a total of 45,144 tons of copper cathode last year, up by 35% YOY. Again, Sarcheshmeh had the largest share with 29,978 tons, as Miduk produced 15,166 tons.

Copper cathode output during the second month reached 23,437 tons, going up by 22% YOY.

Miduk Complex, Sarcheshmeh Copper Complex and Sungun Complex produced a total of 9.55 million tons of sulfide ores in two months, which figure remained unchanged YOY.

Again, Sarcheshmeh had the largest share with 5.56 million tons (up 1% YOY), as Sungun produced 2.63 million tons (up 3% YOY) and Miduk produced 1.35 million tons (down 12% YOY).

Sulfide ore output during the second month reached 4.82 million tons, increasing by 2% YOY.

A total of 1,447 tons of molybdenum were produced by Sarcheshmeh and Sungun (1,096 and 351 tons respectively) during the two months, which indicates a 31% increase YOY.

Molybdenum output during the month to May 21 totaled 731 tons, up by 18% YOY.

According to the United States Geological Survey, Iran holds the world's ninth largest copper reserves.

The United States imposed sanctions on Iran's industrial metals earlier this month.

"These were existing sanctions that had been waived under the nuclear deal, but are now being reimposed," said President of Iran Copper Association Bahram Shakouri.

Iran’s metal exports were usually through third-party exports made by an exporter or manufacturer on behalf of another exporter or exporters. Therefore, Washington’s new sanctions won’t amount to much, but it could carry some risks and costs, he was quoted as saying by Fars News Agency.

Exports of copper and downstream products last fiscal year (ended March 20, 2019) stood at 365,070 tons worth about $917.53 million, down by 52% in tonnage and up by 13% in value YOY.

Copper and downstream products’ imports stood at 1,8700 tons worth $17.42 million, indicating a 93.3% and 90.7% decrease in tonnage and value respectively YOY.

Copper and downstream products were the third major mineral commodity on the list of the country’s mineral trade.