Iran Ranks First Globally with 10 of the World’s 51 Leading Copper Development Projects

Gholamreza Molataheri, Deputy for Strategic Planning and Development at the National Iranian Copper Industries Company, outlined the position of Iran’s copper industry during the company’s Extraordinary General Assembly.

He said that, based on the latest assessments, the global copper industry has 51 development projects under construction in 2026, with a combined capacity of 7 million metric tons of contained copper. Of these, 10 projects belong to the National Iranian Copper Industries Company.

614,000 Tons of Copper Development Capacity by 2030

Molataheri stated that 9% of the world’s copper development capacity belongs to the National Iranian Copper Industries Company.

He added that, with 614,000 metric tons of copper mining development capacity planned by 2030, Iran ranks third globally, behind Chile and Peru, in terms of copper development project capacity. However, all of Iran’s development projects are classified at the highest “Committed” investment confidence level, placing the country first in the world in terms of confirmed copper development project capacity.

Molataheri noted that 10 confirmed development projects are scheduled for implementation by the National Iranian Copper Industries Company between 2026 and 2030. Upon completion, these projects will add 2.723 million metric tons of copper concentrate production capacity and 614,000 metric tons of contained copper capacity to the country’s production.

More Than €5.6 Billion in Development Contracts Underway

The Deputy for Strategic Planning and Development said the company currently has more than €5.6 billion worth of development contracts under execution.

He added that projects valued at approximately €189 million were commissioned during the Iranian year 1404, while the remaining projects are scheduled to be completed and gradually enter production during 1405 and the following years.

He identified the construction of Sungun Concentrator Phases 3 and 4, Miduk Concentrator Phases 2 and 3, Sarcheshmeh Concentrator Phases 3 and 4, the Chah Firoozeh Concentrator Plant, the Sungun Cathode Plant, the first phase of the Seridoun Concentrator, the Khatoonabad Slag Flotation Plant, and the development of small-scale mines as the company’s most significant development projects.

IRR 40.49 Quadrillion Investment in Development Projects

Molataheri described sustainable financing as one of the key requirements for implementing these projects.

He said that the proceeds from the company’s 37.14% capital increase will be invested in projects including Miduk Concentrator Phase 2, Sungun Concentrator Phase 3, the first-phase Seridoun Concentrator Plant, the Persian Gulf water transfer project to the Sarcheshmeh Copper Complex, the 183-megawatt Khatoonabad gas-fired power plant, the 100-megawatt Meymand solar power plant, and the 100-megawatt Heris solar power plant.

According to the estimates, the projects require a total investment of IRR 40.49 quadrillion, of which IRR 39 quadrillion will be financed through the company’s capital increase and retained earnings, with the remainder funded through the company’s internal resources.

Competitive Advantages Supporting Continued Growth

Molataheri also highlighted the company’s integrated value chain from mining to cathode production, abundant mineral reserves and long-term feedstock security, secure water supply and development infrastructure, strategic access to emerging global markets, the capacity to produce high-value by-products, technological advancement and digitalization, a highly skilled workforce, and strong localization capabilities as its key competitive advantages in achieving its development objectives.

Capital Increase Approved to Support Development Plans

According to the report, the Extraordinary General Assembly of the National Iranian Copper Industries Company was held on Wednesday, July 22, with the participation of more than 73% of shareholders and chaired by Mohammad Masoud Samiei-Nejad.

Shareholders approved a 37.14% capital increase funded through retained earnings.

As a result, the company’s registered capital increased from IRR 105 quadrillion to IRR 144 quadrillion. The capital increase was approved to strengthen the company’s financial structure and support its development plans and strategic investments.