Iran's H1 Copper Exports at 56K Tons

EghtesadOnline: Iran exported a total of 56,000 tons of copper during the first six months of the current Iranian year (March 21-Sept. 22), according to the managing director of the National Iranian Copper Industries Company.

News ID: ۷۴۸۷۹۸

26 October 2019

Ardeshir Sa'd-Mohammadi added that H1 exports exceeded the total volume of shipments in the last fiscal year (March 2018-19), which stood at 47,000 tons.

According to the official, Iran’s copper output stood at more than 132,400 tons during the six-month period, IRNA reported.

"Iran’s copper production is expected to exceed 260,000 tons by the [fiscal] yearend [March 19, 2020] and will exceed 300,000 tons next year [March 2020-21]," Financial Tribune quoted him as saying.

Iran's copper smelting capacity is expected to reach 400,000 tons—twice higher than the current capacity—by the end of the current fiscal year [March 2020], he added.

Taking into account the development of copper mines of Der Alo Copper Mine, Darezar Copper Mine and Khatunabad (all three in Kerman Province) as well as new explorations, Sa'd-Mohammadi believes the country’s copper reserves will last for the next 100 years.

On July 3, 1972, Kerman Sarcheshmeh Copper Mines Co. (P.J.S.) was incorporated and in 1976, it was renamed National Iranian Copper Industries Company, which encompasses all operations of copper mines in the country.

The functions of this company include: To extract and operate copper mines; to produce high grade products of copper ore and products such as cathode, slab, billet and 8-mm wires. Among the most important copper mines of the country, one may name Sarcheshmeh and Miduk in Kerman, and Sungun in East Azarbaijan.

NICICO and its subsidiaries, including Sungun Complex, Miduk Complex and Sarcheshmeh Copper Complex, produced an aggregate of 589,669 tons of copper concentrate during the first six months of the current Iranian year (March 21-Sept. 22) to register a decrease of 1% compared with last year’s similar period.

Production in the month ending Sept. 22 stood at 106,876 tons—unchanged year-on-year, the Iranian Mines and Mining Industries Development and Renovation Organization’s latest report shows.

NICICO produced a total of 132,421 tons of copper cathode during the period, up by 15% YOY.

Copper cathode output during the sixth month reached 22,033 tons, up by 5% YOY.

A total of 3,973 tons of molybdenum were produced by NICICO during the six-month period, which indicates a 13% increase YOY.

Molybdenum output during the month to Sept. 22 totaled 706 tons, up by 10% YOY.

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

Exports of copper and downstream products in the last Iranian year (ended March 20) 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 1,870 tons worth $17.42 million, indicating a 93.3% and 90.7% decline 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.