Iran discovers new gold, iron ore, coal deposits

Business Materials 11 December 2016 13:10 (UTC +04:00)

Baku, Azerbaijan, Dec. 11

By Khalid Kazimov – Trend:

Mineral explorations in Iran over the past three years have led to discovering new deposits of gold, iron ore and coal, a deputy minister said.

Mehdi Karbasian, a deputy industry, mines and trade minister, has said that following the exploration works 400 million tons of iron ore, 350 million tons of coal and 50 tons of gold deposits were discovered in the country, IRNA news agency reported.

He further added that the government has taken steps to launch seven projects on producing steel in the country.

According to the official, 60 foreign countries are currently studying investment opportunities in Iran’s mineral sphere.

Iran plans to increase its annual capacity for producing crude steel to 55 million tons by 2025.

In the meantime, the country’s mineral and industrial officials have developed plans to increase the capacity for producing copper to 1.5 million tons per year.

Iran’s annual mining capacity currently stands at 400 million tons as there are about 5,400 operating mines in the country.