Mining News Pro - CEO of National Iranian Copper Industries Company said that the company succeeded to fulfill its targets and even more in production, exploration and development by selling more than $1.34 billion in 11 months of this (Persian calendar) year.
According to Mining News Pro - Ardeshir Sadmohammadi said that they put all their efforts to run the projects faster.
“NICICO finished more than $233.3 million development plans this year; including copper production increase in Khatoun Abad plant from 80,000 tons to 120,000 tons. This has led to the rise of countries melting capacity of the copper anode to 400,000 tons for the first time,” he said.
According to Saad Mohammadi, the plan for oxygen plant, concentrate storage and sulfuric acid storage project in Bandar Abbas is also ready for inauguration.
He insisted that National Iranian Copper Industries Company is at the right track and said: “NICICO has succeeded to sell more than $1.3 billion in 11 months. Our target was to reach $1.31 billion.”
“We did well in the manufacturing sector and for the first time our sales volume exceeded production. Fortunately, our stock is good and our market value has increased from $2 billion to over $4.6 billion,” he added.
He explained that coronavirus has affected the copper market and copper prices will not stay at the current price level. After this crisis, prices and demands will increase again.
“We are budgeting for the next year with a good condition in the field of exploration, production, sell and development plans implementation,” he said.
NICICO intends to increase all current records next year.