Iran’s second-largest copper mine has seen a dramatic increase in ore deposits, with a three-fold rise reported as the country pushes forward with efforts to develop its untapped mineral resources.
The National Iranian Copper Industry Company (NICICO) announced that extensive exploration activities at the Sungun mine in northwest Iran have uncovered significant copper reserves. The findings were detailed in a statement released Wednesday.
A certificate issued on December 28 by Iran’s Ministry of Industry, Mine, and Trade (MIMT) confirmed that Sungun’s copper reserves now stand at 2.49 billion metric tons (mt), including 1.15 billion mt of proven reserves. The reserves have an average copper purity of 0.53% and a molybdenum content of 125 grams per ton, according to the NICICO statement.
This marks a substantial increase from previous estimates. A prior MIMT certificate had placed Sungun’s proven and probable reserves at 0.79 billion mt with an average copper purity of 0.63%, without accounting for molybdenum content.
The map shows the locations of Iran's largest base metal mines.
Sungun’s new reserve figures now position it closer in scale to Iran’s largest copper mine in Sarcheshmeh, located in the southeast. Sarcheshmeh, which previously held the title of the country’s largest copper deposit, contains an estimated 1.2 billion mt of ore with an average purity of 0.7%. It remains one of the largest copper mines in the world.
Iran has been ramping up investments in its mining and metals sectors in recent years as part of a broader strategy to reduce dependence on oil revenues, which have been constrained by U.S. sanctions reintroduced in 2018. The government’s focus on diversifying the economy has also aimed to create more jobs for its growing youth population.