An Overview Of The Iran's Copper Industry - Opportunities And Restrictions

Iran possesses very large copper resources, estimated to contain around 4-5% of the world's known copper inventory. There are several small private sector copper mining operating in the country, but Iran's copper industry is dominated by the state-owned National Iranian Copper Industries Company, which operates the world-class Sar-Cheshmeh open-pit Mine. This mine was developed in 1970s before the 1979 Islamic Revelation by the Atlantic Richfield Company (ARCO), the former Anaconda Copper Mining Company. Current Iran?s copper cathode production is about 250,000 mtpa and recently it is targeted to reach to 700.000 t by 2014. The required finance for this target is estimated US $2.25 -b, i.e. US $5000 for each tonne capacity. The copper content of the mineable reserves of the country is estimated about 19 Mt. It is not unlikely this amount increases in close future. Currently, almost 30 projects consist of mine, concentrator, smelter, refinery, acid plant, leaching, bio-leaching are underway. These projects are a golden opportunity for the local and foreign companies, but the recent sanctions are very challenging that all studied in this paper.