34 new mines discovered in northeast of Iran

Business Materials 29 September 2012 17:03 (UTC +04:00)

Azerbaijan, Baku, Sep.29/ Trend F.Milad/

Thirty four mines have recently been discovered in Khorasan Razavi Province, north east of Iran, the IRIB reported on Friday.

The mines hold an estimated deposit of 50 million tons. The private sector has invested 7.3 billion rials ($595,000) to unearth the mines, which include magnesium, iron ore, calcite, chromate, and granite.

Deputy head of Iran's Geology and Mineral Exploration Organization Behrouz Borna said that the country ranks first in the Middle East for possessing the region's largest mineral reserves.

"Iran holds three percent of the world's mineral reserves, which puts the country first in the Middle East and third in Asia," Borna added, Press TV reported.

The official also said, the country holds about 68 kinds of minerals. He added, that 20 additional types of minerals have been identified through recent explorations.

Iran is ranked among the 15 major mineral-rich countries of the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India and Afghanistan.