National Iranian Copper Industries Company
National Iranian Copper Industries Company (NICICO) is an Iranian public copper company headquartered in Tehran, with reported mining assets in Kerman Province and East Azerbaijan Province. Its product range includes copper cathode and wire rod, alongside reported molybdenum, sulfuric acid and precious-metals concentrate outputs. The company’s appearance in sanctions-screening records makes current compliance review material for prospective counterparties.
Operations & footprint
Products and services
Copper cathode and wire rod; reported intermediate products include slab and billet. By-products include molybdenum concentrate, molybdenum oxide, precious-metals concentrate and sulfuric acid.
Operations and assets
Operating assets are Sarcheshmeh Copper Mine and Miduk Copper Mine in Kerman Province, and Songun Copper Mine in East Azerbaijan Province.
Geographic footprint
Headquartered in Tehran, with reported copper-mining assets in Kerman and East Azerbaijan provinces.
Ownership & group structure
Reported scale
Scale note: Publicly reported total sales were 220 trillion rials, approximately US$5.2 billion, as of 2020. The figure is historical and should not be treated as current revenue.
Commercial and investment relevance
NICICO is relevant to Hormuz because copper sits at the intersection of mining, industrial metals, electrification, export demand, resource security, and infrastructure constraints. The company can connect multiple Hormuz entities, including Kerman, East Azerbaijan, Sarcheshmeh Copper Mine, Mining & Metals, Trade & Transit, Water Scarcity, Power Shortage, and Sanctions & Compliance. The company’s reported product range connects mine supply with refined and semi-finished copper products. Its stated main products are copper cathode to ASTM B115 and wire rod to ASTM B49; reported additional outputs include molybdenum products, sulfuric acid and precious-metals concentrate.
Constraints, risk & compliance
Key risks and constraints
Decision-makers should validate current mine-level production, export destinations and operational conditions before relying on them in commercial planning. Sanctions-related restrictions and counterparty screening are material considerations.
Sanctions and compliance considerations
OpenSanctions lists the company with entries sourced from the US OFAC SDN list and US SAM Exclusions. This is a compliance consideration requiring current, transaction-specific sanctions screening and legal review; the available evidence does not provide a comprehensive assessment of sanctions impact.
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Frequently asked questions
Direct answers to the questions most likely to arise when reviewing this profile.
What does National Iranian Copper Industries Company produce?
Reported main products are copper cathode and wire rod. Reported additional outputs include slab, billet, molybdenum products, precious-metals concentrate and sulfuric acid.
Which mines are reported to be operated by NICICO?
Reported operating assets include Sarcheshmeh and Miduk copper mines in Kerman Province, and Songun Copper Mine in East Azerbaijan Province.
Does NICICO present sanctions and compliance considerations?
Yes. OpenSanctions records include entries sourced from US OFAC SDN and US SAM Exclusions data. Counterparties should conduct current, transaction-specific screening and obtain appropriate legal advice.
When was NICICO founded?
Its identity history traces establishment to 3 July 1972 as Sarcheshmeh Copper Mines Company, followed by a 1976 rename. Other public references cite 1971 or 1972, so the founding year is not fully resolved.