From the Complex’s rapid recovery after flooding to pursuing financial restructuring, expanding mining activities, and strengthening operational oversight during the first half of 1405 at Taknar Copper Mines Complex Co.
According to the Public Relations and Information Office of Taknar Copper Mines Complex Co., the company’s performance in the first half of 1405 focused on sustaining operations, preserving processing capacity, managing financial resources, improving executive processes, and pursuing development programs—actions carried out amid constraints in the supply of blasting materials, challenges in supplying feed to the concentrator unit, and certain operational obstacles.
One of the notable measures in this period was managing the emergency conditions after flooding in the first week of Farvardin. Following damage to the mine access road and part of the operational infrastructure, the problems that had arisen were resolved in less than 72 hours and the Complex’s activities returned to normal—an action that prevented a prolonged disruption to the company’s operations.
Based on the company’s performance report for the first half of the current year, a total of 40,698 tonnes of copper ore was processed at the Complex’s concentrator unit. In addition, 213 tonnes of copper concentrate were recorded in the company’s sales performance. Given existing constraints in feed supply, the company used toll-processing and partnership processing capacity as well as the possibility of processing low-grade lumps, in order to preserve part of its operational activity and create a basis for generating revenue and covering part of the Complex’s current costs.
In the financial and economic domain as well, inventory management, revising the pricing mechanism for products and services, reforming contractual procedures, and pursuing working-capital financing solutions were placed on the agenda. Using advance-payment capacity, negotiating credit purchases from suppliers, and pursuing bank financing methods were among the actions taken with the aim of managing liquidity and reducing financial dependence on the major shareholder.
Also, in line with reforming the company’s financial structure, a justification report for a capital increase from matured receivables and shareholders’ cash contributions was prepared and submitted. According to the performance report, a proposal for a capital increase amounting to 1,400 billion rials was approved by the holding’s Board of Directors, and the related documentation was sent to the independent auditor and the statutory inspector for their opinion.
Strengthening oversight of mining operations and enhancing executive transparency were among the Complex’s other priorities in this period. In this regard, a dispatching system was installed and activated at the Complex, and environmental and operational monitoring using more than 35 cameras was placed on the agenda. These measures were taken to increase the ability to supervise activities, strengthen operational controls, and improve the ability to follow up on operational events.
In the development of mining activities, preparation of the supplementary exploration operational plan for the Taknar copper mine, the operational plan for the Arghash 2 gold mine, and the company’s strategic document were recorded in the performance report as 100 percent completed. Follow-up on preparing technical, financial, and economic justification reports, obtaining the required permits, and laying the groundwork for utilizing development capacities were also on the agenda.
Attention to human capital, risk management, and safeguarding the company’s assets were among the other focus areas in the first half of the current year. Pursuing increases in employees’ salaries and benefits, welfare and livelihood support, supplying personal protective equipment, using specialized financial and legal advisors, following up on cases related to assets, and reviewing insurance coverage for materials and goods were among the actions taken in this period. Measures related to environmental requirements and follow-up on General Assembly duties, Board resolutions, and communicated programs also continued.
Taken together, the actions taken in the first half of 1405 indicate that Taknar Copper Mines Complex Co. focused on sustaining operational activities, making economic use of existing capacities, strengthening oversight, and pursuing financial and managerial reforms. Continuing this approach in the second half of the year can provide a basis for improving productivity, strengthening operational capability, and enhancing the company’s economic performance.
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