Financial Tribune - Sungun Copper Complex will soon begin working on the third development phase of its concentration units.

According to Reza Sharifi, manager of Azarbaijan Copper Complex affiliated with the Iranian National Copper Industries Company, the copper complex has obtained the permit for the development phase from East Azarbaijan Industries, Mining and Trade Organization.

The development of the third phase will see the production of 150,000 tons of copper concentrates in addition to 1,650 tons of molybdenum concentrates per year.

According to the official, Sungun Copper Complex is estimated to possess more than 880 million tons of extractable minerals.

Currently, 14 million tons of minerals are extracted and around 300,000 tons of concentrates are produced at Sungun Copper Complex per year.

National Iranian Copper Industries Company and its subsidiaries, including Sungun Complex, Miduk Complex and Sarcheshmeh Copper Complex produced an aggregate of 691,381 tons of copper concentrate during the first seven months of the current Iranian year (March 21-Oct. 22) to register a decrease of 1% compared with last year�s similar period.