NICICO exploratory excavations rise 20%
The managing director of the National Iranian Copper Industries Company (NICICO) said the company has conducted 240,000 meters of exploratory excavation since the beginning of the current Iranian calendar year (March 21) which is 20 percent more than the figure for the previous year.
According to Amir Khorami-Shad, NICICO’s total exploratory excavation conducted in the current Iranian calendar year (ends in late March 2024) is expected to increase by 50 percent compared to the previous year, IRIB reported.
The official said the company managed to conduct 200,000 meters of exploratory drilling in the previous year.
Back in June, NICICO’s former head Ali Rostami said the company was following a new program to increase its annual revenues to $10 billion.
According to Rostami, based on the mentioned program, the country’s production capacity is going to increase by threefold and more than 50,000 people will be working in the industry.
Earlier in March, Rostami said the country’s copper production is going to reach one million tons in the next six years.
He noted that in case of reaching the above-mentioned output, the country’s copper export is also going to hit $10 billion.
According to Rostami, NICICO managed to export $1.6 billion worth of copper products in the Iranian calendar year 1400 (ended on March 20, 2022).
Iran saw its copper exports double in that year despite a series of bitter sanctions imposed by the United States aimed at hampering the Islamic Republic’s trade of lucrative metals.
Source: Tehran Times
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
