Iran’s second copper mine reports 3-fold rise in deposits
Iran’s second-largest copper mine has reported a three-fold increase in its ore deposits as the country moves ahead with plans to develop its untapped mineral resources.
In a Wednesday report, the Fars news agency quoted a statement from the National Iranian Copper Industry Company (NICICO) as saying that huge copper deposits had been discovered in the Sungun mine in northwest Iran after a series of “shining exploration activities” in the area.
It said a certificate had been issued on December 28 by Iran’s Ministry of Mine, Industry and Trade (MIMT) stating that Sungun’s copper reserves reached 2.49 billion metric tons (mt), including 1.15 billion mt of proven reserves, with an average purity of 0.53% and a molybdenum content of 125 grams per ton.
A previous MIMT certificate had put Sungun’s proven and probable reserves at 0.79 billion mt with an average purity of 0.63% and without mentioning the molybdenum content.
Based on previous estimates, Iran’s largest copper mine in Sarcheshmeh, located in the southeast of the country, had a deposit of 1.2 billion mt of copper ore with a purity of 0.7%, making it one of the largest mines in the world.
NICICO and MIMT’s local branch in East Azerbaijan province, where Sungun is located, have yet to announce plans to develop and extract the mine’s new resources.
Since coming under US sanctions in 2018, Iran has increased its investment in mining and metals projects amid efforts to diversify the economy away from crude oil revenues and to create more jobs for the country’s youth.
That comes as government figures published in recent years have pointed to a steady rise in the exports of metals and minerals from Iran.
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