Iran's Q1 Copper Production Surpasses 290K Tons

Production in the month ending June 21 was 94,852 tons, down 5% year-on-year, Iranian Mines and Mining Industries Development and Renovation Organization’s latest report shows.

Sarcheshmeh Copper Complex and Khatoon Abad Copper Refinery produced an aggregate of 89,394 tons of copper anode during the quarter under review, up 26% YOY. Sarcheshmeh had the biggest share with 58,748 tons, up 30% YOY. Khatoon Abad produced 30,646 tons, up by 19% YOY.

Copper anode production during the third month stood at 31,528 tons, up 23% YOY, according to Financial Tribune.

Sarcheshmeh Copper Complex and Miduk Complex produced 67,472 tons of copper cathode during the period, up by 27% YOY. The former had the largest share with 44,418 tons, as Miduk produced 23,054 tons.

Copper cathode output during the third month reached 22,328 tons, going up by 13% YOY.

Sarcheshmeh Copper Complex, Sungun Complex and Miduk Complex extracted an aggregate of 42.3 million tons of copper in the three months, down 8% YOY.

Copper extraction during the third month stood at 14.27 million tons to pose no change YOY.

Sarcheshmeh Copper Complex, Miduk Complex and Sungun Complex produced a total of 13.55 million tons of sulfide ores in three months, down 4% YOY. Again, Sarcheshmeh had the largest share with 7.83 million tons (down 3% YOY), while Sungun produced 3.6 million tons (down 7% YOY) and Miduk produced 2.11 million tons (down 4% YOY).

Sulfide ore output during the third month reached 3.99 million tons, decreasing by 13% YOY.

A total of 2,124 tons of molybdenum were produced by Sarcheshmeh and Sungun (1,622 and 502 tons respectively) during the three-month period, which indicates a 21% increase YOY.

Molybdenum output during the month to June 21 totaled 677 tons, up by 4% YOY.

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

The United States imposed exclusive sanctions on Iran's industrial metals in May.

"The sanctions waived under the nuclear deal are now being reimposed," said President of Iran Copper Association Bahram Shakouri. 

Iran’s metal exports were usually through third-party exports—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 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 1,8700 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.