Iran eyes 40% surge in copper output by 2024
2021-02-01 14:05:39 [Print]
Iran aims to significantly increase its copper production capacity to respond to a growing international demand for the metal, says a senior industry official.
Deputy Iranian industries minister Ardeshir Saadmohmmadi said last Saturday that total capacity for copper production in Iran would increase by nearly 40 percent to top 550,000 metric tons a year by 2024. Saadmohmmadi said Iran will spend nearly $2.5 million to finish a total of 29 new copper production projects to meet the target.
The official, who also heads the National Iranian Copper Industry Company (NICICO), said production of anode or raw copper will also surge by 16 percent this calendar year ending late March.
The NICICO aims to reach a record annual output of 280,000 tons at the end of the current calendar year. Production is expected to hit a target of 400,000 tons a year by 2024. Copper concentrate output will also double in the next two years to reach two million tons a year, according to figures by the company.
Deputy Iranian industries minister Ardeshir Saadmohmmadi said last Saturday that total capacity for copper production in Iran would increase by nearly 40 percent to top 550,000 metric tons a year by 2024. Saadmohmmadi said Iran will spend nearly $2.5 million to finish a total of 29 new copper production projects to meet the target.
The official, who also heads the National Iranian Copper Industry Company (NICICO), said production of anode or raw copper will also surge by 16 percent this calendar year ending late March.
The NICICO aims to reach a record annual output of 280,000 tons at the end of the current calendar year. Production is expected to hit a target of 400,000 tons a year by 2024. Copper concentrate output will also double in the next two years to reach two million tons a year, according to figures by the company.
Copper Conc. TC 25%min CIF China
Unit:USD/mt
China copper concentrate producers' inventory to production ratio statistics by province by month
Unit: %
