NICICO: 26 Percent Growth in Copper Cathode Production

According to Mining News Pro - Ardeshir Sadmohammadi, CEO of National Iranian Copper Industries Company (NICICO) announced that with 22 percent growth in the last month, the company produced 23 thousand tons of cathode.

He mentioned the company’s new record in cathode production and said: “In the first four months of this year, we produced 117.5 thousand tons of anode.”

“Monthly production of copper in NICICO increased by 8 percent. In the last month by 2 thousand tons of increase, the total production reached 25.3 thousand tons”, Sadmohammadi said.

According to the CEO of NICICO, copper concentrate production has experienced a 5% growth over this period. According to the plan, 381.9 thousand tons of copper concentrate was expected but the actual number is 400.6 thousand tons.

“Financial performance of the company in Q1 shows that we had 89 percent growth and total sales are $413.6 million. Also, during the first quarter of this year, the company earned a profit of $261.5 million, up 174 percent from the same period last year.”