TEHRAN – The managing director of National Iranian Copper Industries Company (NICIC) has said the company is following a new program to increase its annual revenues to $10 billion, IRIB reported.

Ali Rostami made the remarks in a meeting with the newly appointed acting head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Mohammadreza Movasaghi-Nejad.

According to Rostami, based on the mentioned program, the country’s production capacity is going to increase by threefold and more than 50,000 people will be working in the industry.

Back in March, Rostami said the country’s copper production is going to reach one million tons in the next six years.

He noted that in case of reaching the above-mentioned output, the country’s copper export is also going to hit $10 billion.

According to Rostami, NICIC managed to export $1.6 billion worth of copper products in the Iranian calendar year 1400 (ended on March 20, 2022).

Iran saw its copper exports double in that year despite a series of bitter sanctions imposed by the United States aimed at hampering the Islamic Republic’s trade of lucrative metals.

EF/MA