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According to Sa’d Mohammadi, this figure exceeds the total revenue made in the copper industry last year by more than half.

Sa’d Mohammadi added that presently, $12,500 of investments are needed for every ton of copper in the world, while in Iran, about $8,000 of investments are needed. "Therefore, Iran has a great advantage in terms of investments in the copper industry," he noted.

He said that the sum of investments made to the copper industry by NICIC and other domestic and foreign companies has amounted to €1.8 billion.

The CEO added that it is expected that production will reach 540,000 tons this year due to the commissioning of new projects.

“The current reserves of the NICIC are estimated at 2.2 billion tons of copper. This figure will increase with the discovery of new reserves. Therefore, the currently available reserves will last for 50 years, while the discoveries of new reserves will prolong that period to 100 years,” he said.

Iran produced 298,000 tons of copper during the last Iranian year (ended on March 20, 2019).

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The director of the South Pars Customs Office, Ahmad Pourheidari, said that the figure shows a 23-percent growth in terms of weight and a two-percent rise in terms of value, compared to the same period last year.

Mozambique, South Africa, Uzbekistan, Azerbaijan, Armenia, Georgia and the UAE were the main destinations for Iranian products exported through South Pars customs, he said, adding that Iraq, Afghanistan and Turkey also had land imports from this customs office.

Pourheidari also said that China, Romania, Kyrgyzstan, Taiwan, Kuwait, Qatar, Oman, Pakistan and Italy were the main importers of Iranian petrochemical products during the one-month period.

Iranian officials have announced that the country exported around $11.5 billion worth of goods and services in the first three months of the Iranian year (March 21-June 21).

The acting head of Iran’s Trade Promotion Organization said on July 7 that the amount of exports recorded in the period, which corresponds to the second quarter of 2019, showed almost no growth compared to the similar period last year.

Mohammadreza Mo’doudi said, however, that the value of imports to Iran in the same quarter had decreased around 8.7 percent, to stand at $10.2 billion.

The official would not elaborate on the share of petrochemicals in the total volume of Iran’s exports. However, the stable figures come as Iran has been facing restrictions in trade with its traditional partners as sanctions imposed by the US has made it more difficult for Iranian businesses to access banking services in other countries.

Mo’doudi said that the amount of Iran’s non-oil exports, which also includes products derived from crude oil, should have declined if Iran had not carried out proper investments in megaprojects in the petrochemical and steel industries over the past years.

The official said some 400 out of 8,000 items exported from Iran last year accounted for 95 percent of the total volume of exports from the country.

He said 130 items of those competitive products or services accounted for more than $37 billion worth of Iran’s annual exports.

Mo’doudi said Iran aims to bring the total value of its non-oil exports to $120 billion by 2025, insisting the government needed to empower the exporters through a detailed plan if it wanted to meet the target.

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