BAKU, Azerbaijan, Nov. 24
By Elnur Baghishov – Trend:
It was decided to increase the capital of the National Iranian Copper Industries Company (NICICO) by 100 percent, during the snap meeting of the company, Trend reports citing Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).
According to the report, the company's capital has increased to 400 trillion rials (about $9.52 billion).
“Before that, the company's capital amounted to 200 trillion rials (about $4.76 billion),” the report said.
The company's capital has been increased at the expense of revenues, and thus the NICICO has become the company with the highest capital on the Iran Mercantile Exchange (IME).
As reported, the sales of the National Iranian Copper Industries Company for the first 6 months of the current Iranian year (March 21 through September 22, 2021) amounted to 350 trillion rials (about $8.32 billion), which is an increase of 116 percent, compared to the same period last Iranian year.
At the same time, the company produced about 179,000 tons of copper anode within six months, which is an increase of 5 percent compared to the plan.
Over 6 months, the NICICO produced 143,000 tons of copper cathode. This is an increase of 5 percent compared to the planned.
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