Institutional transformation accelerates copper chain development

According to me-metals cited by mes press, Dr. Seyed Mostafa Faiz, on Thursday, February 05, at the opening ceremony of the development projects of the National Iranian Copper Industries Company (NICICO) in the presence of the Minister of Industry, Mines and Trade at the Sarcheshmeh Copper Complex, congratulated the Fajr decade of the Islamic Revolution and stated: "This unparalleled capacity is a strategic opportunity for the country's economy that must be taken advantage of with a development-oriented and technological perspective."

Seventh Development Plan and Copper

Referring to the tasks set in the Seventh Development Plan, the CEO of the National Copper Company said: The National Iranian Copper Industries Company (NICICO) is required to increase the production of copper content from 800,000 tons to one million tons and, in addition, increase the production of concentrate to over 4 million tons; a goal that could generate an income of about $10 billion for the country.

To enter the global copper club

Stressing the importance of developing the product portfolio, Dr. Faiz added: "In addition to developing the production chain, diversifying the products of the National Copper Company plays an important role in achieving short-term and medium-term goals. If National Copper Company wants to be in the club of the world's great copper companies, it must establish deep and effective connections with the fields of technology, commerce, and international partnerships."

He noted: "Currently, 32 global standards have been defined for copper products, and compliance with these standards is essential for an effective presence in global markets."

Production performance, beyond plan

Referring to the company's production performance this year, the CEO of the National Iranian Copper Industries Company said: "Despite energy supply disruptions, operational complexities, and even the effects of the 12-day imposed war, fortunately we are 3% ahead of schedule in copper content production and 6% ahead of schedule in concentrate production."

Increasing capital market confidence in Famelly

Referring to the company's export performance, Dr. Faiz added: "Despite logistical problems and currency exchange restrictions, sales were made at the right times with a smart approach, which coincided with the increase in global cathode prices. A suitable rial growth was also recorded in the domestic market."

He stated: "The sum of these performances increased shareholders' confidence in the "Famelly" share, and a 140% return was achieved for this share in the capital market."

Copper and the country's largest project package

Referring to development projects, the CEO of the National Copper Company said: "Currently, 72 projects are under implementation at the National Iranian Copper Industries Company, which is considered the largest project complex in the country. To manage this volume of projects, 23 strategic packages have been designed so that the entire chain is developed homogeneously from start to finish."

Changing the governance system with the aim of improving procedures

He continued: "By changing the project governance system and obtaining permission from the board of directors, decision-making and resource allocation in the development sector have become more agile, and independent development commissions have replaced the time-consuming structures of the past. The result of these reforms has been the recording of 11.5 percent progress of projects in the past 10 months, which is a significant increase compared to the same period last year."

Dr. Faiz added: In the field of production and operations, by establishing executive boards in complexes and delegating some of the headquarters' authority to complex managers, the path to securing and implementing projects has become shorter and more efficient.

Innovation, technology and environmental concern

The CEO of the National Iranian Copper Industries Company (NICICO) continued: "With the passage of more than four decades of the National Iranian Copper Industries Company's existence and the increase in operational risks, the diversity of activity areas, and the complexity of the business environment, moving towards innovation and technology is an inevitable necessity. We have more than one billion tons of mining waste, which, given the existing grade, can be transformed into a value-creating opportunity. Creating tailings dams is time-consuming, costly, and has environmental consequences; therefore, tailings reprocessing must be put on the agenda seriously."

He continued: "In the mining sector, as the depth of mines increases, we are forced to move towards underground mining and the use of new technologies. Using new blasting methods, reducing energy consumption, reducing crushing costs, and utilizing new technologies are among the fundamental axes of the national copper strategy in the field of process and operations."

Social responsibility; an inherent obligation

The CEO of the National Iranian Copper Industries Company (NICICO), pointing out that the copper company operates along more than 2,000 kilometers of the country's copper belt and faces the most complex network of stakeholders, from Kerman Province to Azerbaijan, Yazd, and Sistan and Baluchestan, said: "In Kerman Province, the National Copper Company has always been with development and has taken numerous important and strategic measures in this province; although we acknowledge that these efforts have not met all the demands."

He added: "If the National Iranian Copper Industries Company (NICICO) does not act on sound economic and business logic and its profit margin decreases, the possibility of playing an effective role in the field of social responsibility will also be weakened. Social responsibility is an international term in business, and we consider it one of the inherent duties of the National Iranian Copper Industries Company (NICICO)."

Dr. Faiz concluded by emphasizing: The National Iranian Copper Industries Company (NICICO) will continue to stand by Kerman province's macro development policies, and Kerman will remain on top.