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  • 05-09-22

    NICIC discovers 1B tons of additional copper assets

    (MENAFN) The running director of National Iranian Copper Industries Company (NICIC) has declared the finding of one billion tons of additional copper assets in Iran, as reported by IRIB.

    NICIC performed a 28,000 meters of deep drilling to classify new copper reserves in East Azarbaijan’s Sungun copper mine which lead to the detection of one billion tons of new assets, Ali Rostami stated on Sunday.

    In line with Rostami, with the finding of the stated assets, the overall in-place reserves of the stated mine have surged from four billion to more than five billion tons.

    He put the value of the discovered reserves at more than USD50 billion, stating that the firm is taking the needed actions to start executing development actions in the said mine.

    Rostami mentioned that with the identification of these additional assets, the resources of the Sungun mine have surged by over 25 percent, adding that “A one-billion-ton increase in resources is unique in its kind and is considered a huge discovery, although estimates show that the mine’s reserves maybe even more than what we have already discovered.”

    MENAFN05092022000045014228ID1104810636

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