The CEO of the National Copper Company announced:
From Institutional Transformation to Economic Growth in Iran’s Copper Sector/ Executives Must Lead the Transformation
me-metals: Highlighting the company's performance over the past year, the CEO of the National Iranian Copper Industries Company (NICICO) announced that copper mineral production reached 331,000 tons, while extraction volume rose to 356 million tons—marking a 10% increase. Concentrate production also grew by 13%, reaching approximately 1,535,000 tons. Additionally, the company's average development rate increased to 14%.
According to me-metals cited by Mes Press, Dr. Seyed Mostafa Faiz announced today — 19 Aril 2026 — during the inaugural meeting of CEOs and board members of subsidiary companies, a 40% increase in Rial-denominated resources and a 35% increase in foreign currency resources allocated to development projects.
Pointing to the start of a year marked by challenges and shifts in the global economy, he stated that a very difficult year has passed and the new year has begun with significant developments in global economic indicators; consequently, domestic industries and businesses must adapt to these conditions with great astuteness.
Reduction of schedule deviation from 20% to 5%
The CEO of the National Iranian Copper Industries Company (NICICO), noting that the copper industry's overarching targets include the production of 520,000 tons of cathode and over 3.2 million tons of concentrate, emphasized that the company's achievements over the past year — coupled with a reduction in plan deviation from 20% to 5% — signal the stabilization of performance and the onset of a new phase of rapid growth in the copper industry.
Transformation in Corporate Governance
Pointing to the new policies, Dr. Faiz stated: "The core focus of the programs is financial discipline and strict cost management; the waste of resources is unacceptable."
He emphasized that the budget must be realized based on actual performance through the implementation of precise operational indicators and a systematic reporting system.
He also emphasized transforming the company's governance structure, streamlining operations, delegating authority to the complexes, and fully activating the innovation ecosystem, stating that the application of knowledge must be strengthened across all sectors.
Moving Towards a Productivity Movement by the Year 2026
Pointing to development plans, the CEO of the National Iranian Copper Industries Company (NICICO) stated that the year 2026 must be the year of a major drive to bring large-scale copper projects into operation.
According to him, the Songun cathode mega-project, Sarcheshmeh concentration plants 3 and 4, the Miduk concentration plant 2 project, the Khatoun-Abad slag flotation and lime plants, the Ahar lime plant, the Khatoun-Abad gas power plant, and the 300-megawatt power plant are on track for commissioning.
Transfer of Persian Gulf water to Darreh-Aloo
Dr. Faiz also announced that the vital project to transfer water from the Persian Gulf to Darreh-Aloo will be finalized early this year, and that this project plays a significant role in ensuring a sustainable water supply for industries.
Pointing to the post-war conditions, he stated: "Securing energy supplies and strengthening economic foundations are of particular importance for major enterprises like the National Copper Company; investments must be made intelligently and purposefully, with a focus on higher returns. Regarding financing, the strengthening of financial instruments and the expansion of foreign financing are also on the agenda."
Let us be leaders of transformation
In conclusion, the CEO of the National Iranian Copper Industries Company (NICICO) expressed appreciation to the CEOs and board members of subsidiaries, as well as the company’s deputies and senior managers, stating: "On this path, the executive managers of the National Copper Company must be leaders of transformation."
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