IMIDRO Releases Report on Upstream Copper Output

EghtesadOnline: The National Iranian Copper Industries Company and its subsidiaries, including Sungun Complex, Miduk Complex and Sarcheshmeh Copper Complex, produced an aggregate of 209,450 tons of copper concentrate during the first two months of the current Iranian year (March 20-May 20) to register a 2% rise compared with last year’s corresponding period.

News ID: ۷۵۰۲۵۶

16 June 2020

Copper concentrate output during the second month of the current Iranian year (April 20-May 20) increased by 5% to stand at 106,547 tons, the Iranian Mines and Mining Industries Development and Renovation Organization’s latest report shows.

An aggregate of 61,649 tons of copper anode were produced during the two months under review, up 7% YOY.

Sarcheshmeh Copper Complex and Khatoonabad Copper Cathode Production Plant accounted for 40,762 tons and 20,887 tons of the total sum respectively.

Around 30,959 tons of copper anode were produced in the month ending May 20, up 16% YOY.

Production of copper cathode amounted to 43,188 tons during the two months, down 4% YOY.

Sarcheshmeh Copper Complex and Miduk Complex accounted for 15,428 tons and 9,801 tons of the total copper cathode output respectively.

Around 25,229 tons of copper cathode were produced over April 20-May 20, up 8% YOY.

More than 26,92 million tons of copper were extracted during the two months to May 20, down 13% YOY.

Copper extraction during April 20-May 20 amounted to 14.88 million tons, registering a 5% decline YOY.

Sulfide ore extraction during the two months stood at 9.19 million tons, down 3% YOY. The figure for the month to May 20 amounted to 4.83 million tons, showing a 1% fall.

A total of 1,369 tons of molybdenum were produced during the two-month period, which indicates a 5% decrease YOY.

A total of 664 tons of molybdenum were produced in the month ending May 20, down 9% YOY.

World's Ninth Largest Reserve

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

Iran holds about 4 billion tons of estimated copper reserves, according to the Geological Survey of Iran.

With an annual production of 34.5 million tons, Iran is currently the world’s eighth biggest producer of copper in the world, says Managing Director of the National Iranian Copper Industries Company Ardeshir Sa'd-Mohammadi, adding that with the expansion of mineral explorations, the country will soon ascend to the seventh rank.

According to the official, Iran’s copper reserves make up 4.15% of the global copper reserves, Fars News Agency reported.

The reserves of Iran's Sungun Copper Mine exceed 1.2 billion tons while that of Miduk Copper Mine surpass 500 million tons.

According to Sa'd-Mohammadi, the copper industry has a 50-million-ton share in Iran's annual mineral output.

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.

Exports of copper and downstream products in the fiscal March 2019-20 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.

On July 3, 1972, Kerman Sarcheshmeh Copper Mines Company was incorporated and it was renamed National Iranian Copper Industries Company in 1976, which undertakes all operations of copper mines in the country.

The functions of this company include, among others: To extract and operate copper mines; to produce high-grade copper products such as cathode, slab, billet and 8-mm wires.

Sarcheshmeh and Miduk in Kerman, and Sungun in East Azarbaijan are among the most important copper mines of the country.