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Mes Kavan Namad is preparing for an initial public offering under the Kavan ticker. Chief executive Seyed Hojjatollah Zeinali said the company grew out of the revival of the long-idle Abbasabad copper mine, where the Namad Sanat Pars group invested in 1393 and produced its first concentrate in 1395.
The company produced 8,905 tonnes of concentrate at a copper grade of 22% in Iranian year 1404. It employs about 600 people, including contractors.
Its development strategy includes copper cathode production through an approximately 82% stake in Navid Sanat Alborz and a 35% stake in Mefragh Mes Sarband, which operates copper and tin processing facilities. Zeinali said the company has been following the admission and share-offering process and is now approaching its IPO.