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Iran’s gold reserves estimated to be over 340 tons

Business Materials 25 May 2013 13:54 (UTC +04:00)

Azerbaijan, Baku, May.25/ Trend F.Karimov/

Iran's gold reserves are estimated to be over 340 tons, IRNA quoted deputy head of the Geological Survey of Iran Behrouz Borna as saying.

Fifteen gold mines are being operated across the country, and two others will be added in the current year, Borna said.

Iran ranks 12th in Asia and 42nd in the world in terms of gold reserves, he added.

The country's gold production capacity is projected to hit 10 tons in the current Iranian calendar year, which ends on March 20, 2014, he noted.

In April 2012, Iran discovered three new gold reserves with 16 tons of proven net gold deposits.

The Fars News Agency quoted Borna as saying that the value of newly discovered gold reserves was around 850 million dollars.

With this breakthrough, Iran's total gold reserves have increased to 320 metric tons, the official added.

Iran holds three percent of the world's mineral reserves, putting it first in the Middle East and third in Asia, Borna added.

He said that Iran has about 68 kinds of minerals, and 20 other types of minerals have been identified through recent explorations.

Iran's mineral produce include coal, metallic elements, sand and gravel, chemical minerals and salt. It has the world's largest zinc reserves, holds the second largest copper deposits and ranks ninth for its iron reserves.

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