(Minews) - Iranian Mines and Mining Industries Development and Renovation is attending attending in 15th World Copper Conference in Santiago, Chile, Mehr News Agency reported on Sunday.
According to IMIDRO, the National Iranian Copper Industries Company, as the country’s major company responsible for extraction and utilization of copper mines, will represent the country in the three-day international event in Santiago.
More than 500 internationally renowned companies in copper mining and industries will take part in the conference to be held April 13-15 at the Grand Hyatt Santiago, Chile.
The conference will address the ways of bringing balance to copper world prices, challenges and opportunities in copper extraction and production, development plans, cheap and competitive production methods, China demand prospects, and downstream industries development prospects.
Global copper prices saw extreme fluctuations in recent decade, soaring from $1500 in 2002 to more than $10,000 in 2010. In 2014, copper prices sank 14 per cent down compared to its prices in 2013; now it has a price of $5,500 per tonne.
Supply surplus and Chinese declining economic growth prospects were cited as the major contributing factors to decreasing copper prices.
In Iranian context, three companies active in copper production produced more than 6728 tonnes of copper concentrate in fiscal 11-month period ending in February 21 2015, which had a 1 percent growth compared to the same period the year before. In fiscal 11-month period ending in February 21, 2015, 6211 tonnes of copper anodes and more than 7671 copper cathode were produced by Sarcheshmeh Copper Co., and Midouk Co., which shows a 2.3-per cent growth compared to the same period the year before.
The overall minerals produced from copper ores of Sarcheshmeh, Sungun, and Midouk totalled 149,379,133 tonnes, showing a 19-per cent growth compared to the same period the year before.
Based on official reports, the current capacity for the downstream copper industry including copper wire, copper sections, and copper tubes is 940,000 metric tons. Meanwhile, efficiency in the sector is as low as 20% due to low consumption in the country.
