Q1 Copper Output Surveyed by IMIDRO

EghtesadOnline: The Iranian copper industry produced a total of 94,995 tons of copper anode in the first quarter of the current Iranian year (March 21-June 21), up 4% compared with last year’s similar period, latest data released by the Iranian Mines and Mining Industries Development and Renovation Organization show.

News ID: ۷۸۶۷۳۵

26 July 2021

A total of 32,670 tons of copper anode were produced in the month ending June 21, up 9% year-on-year.

The production of copper cathode hit 75,579 tons in the three-month period, up 10% YOY.

Around 25,590 tons of copper cathode were produced during the third month of the fiscal year, indicating a 1% decline compared with the same period of last year.

An aggregate of 320,449 tons of copper concentrate were produced during the three months under review, up 3% compared with the same period of last year.

During the third month of the year, copper concentrate output stood at 105,595 tons, registering a 5% YOY growth.

The IMIDRO report also shows a total of 2,027 tons of molybdenum were produced during the three-month period, which is unchanged from the same period of last year.

Molybdenum output in the third month hit 684 tons, experiencing a 5% rise compared with the previous year's corresponding period.

The National Iranian Copper Industries Company is a leading copper producer in the Middle East and North Africa region and its mines hold close to 14% of Asia’s copper deposits and about 3% of global reserves.

The functions of this company include extraction and operation of copper mines, as well as production of high-grade copper products such as cathode, slab, billet and 8-mm wires.

NICICO made a net profit of 260.46 trillion rials ($1 billion) in the last Iranian year (March 2020-21), up 118% YOY.

The company’s sales stood at 419.4 trillion rials ($1.7 billion) during the year, up by 87% YOY.

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

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

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

The National Iranian Copper Industries Company and its subsidiaries, including Sungun Complex, Miduk Complex and Sarcheshmeh Copper Complex, produced an aggregate of 355,612 tons of copper anode in the last fiscal year (March 2020-21), posting a growth of 17% compared with last year’s similar period.

Sarcheshmeh accounted for the largest portion of output during the year under review, with 234,067 tons, down 2% YOY.

An aggregate of 1.2 million tons of copper concentrate were produced in the last fiscal year, up 2% compared with the year before. Sarcheshmeh Copper Complex produced the largest share of the total output, namely 712,289 tons that marks a 1% year-on-year increase.

Production of copper cathode hit 280,275 tons in the year under review, up 12% YOY.

Sarcheshmeh Copper Complex solely produced 176,300 tons of the total sum.