Iran's NICICO: Copper Industry to Set Record in Annual Revenue Generation

Iranian copper industry will set an all-time record in terms of annual profit generation by the end of the current Iranian calendar year (March 19, 2020), said the CEO of the National Iranian Copper Industries Company (NICICO). Speaking at a meeting, Ardeshir Sa’ad-Mohammadi added the industry generated US$4.35 billion in revenue during the first 10 months of the current year (March 21, 2019-January 20, 2020) through selling its products, which is a remarkable record, according to shatanews.ir. He noted that, “We will also break the domestic industry’s 50-year annual sales record weight-wise by March 19, 2020.”

Describing as favorable his company’s present conditions, Sa’ad-Mohammadi expressed satisfaction with the firm’s export performance since the beginning of the current year and predicted that a record would be established in this field by the end of the year.

He noted that at present, the NICICO is carrying out exploration operations in different regions of the country, expressing hope that the activities would lead to the discovery of huge copper reserves.
The NICICO CEO added such operations have, thus far, led to a rise in the reserves of Sarcheshmeh copper mine in the central Iranian province of Kerman. He said his company has carried out over 63,000 meters of drilling operations since March 2019, showing a year-on-year growth of over 80%. Sa’ad-Mohammadi said he hoped that the figure would reach 70,000 meters by March 2020, saying the target set for next year stands at 100,000 meters. - Iran Daily