Iran’s Zarshouran gold processing plant 92 per cent complete

Business Materials 26 November 2013 12:26 (UTC +04:00)

Baku, Azerbaijan, Nov. 26

By Fatih Karimov - Trend:

Construction of Iran's Zarshouran gold processing plant is now 92 per cent complete and the first phase will come on stream in the current Iranian calendar month of Azar (ends Dec. 21), the Mehr News Agency quoted the project manager Hosseinqoli Qavanlou as saying on November 26.

The plant's output will reach six tons by September 2015, he said.

It will produce three tons of gold ingots, 1.25 tons of silver ingots and 500 kilogrammes of mercury per year Qavanlou added.

Some 520 billion rials, about $21 million, has been invested in the project.

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

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 reach 10 tons in the current Iranian calendar year which ends on March 20, 2014, he noted.