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China invests in Iran’s gold processing plant

Business Materials 8 January 2017 17:14 (UTC +04:00)

Baku, Azerbaijan, Jan. 8

By Fatih Karimov – Trend:

Gold processing plant of Varzaqan gold mine in East Azerbaijan province, located in north western Iran will be operational by July 2017, Reza Sadeghi Gargari, the mine’s operator said.

The plant is completed by only 30 percent at the moment, Sadeghi Gargari said, Iran's industry, mines and trade ministry's official SHATA news portal reported.

He further said that China has made $9 million investment in the project.

Sadeghi Gargari added that the mine contains 2.175 million tons of gold with purity of seven grams per ton.

He said that some 650 kilograms of gold concentrate with purity of 70 grams per ton is projected to be produced by the plant per year.

Iran’s annual gold output is projected to reach seven tons by 2018 by completing the projects that are underway currently. Iran’s largest gold processing complex, Zarshouran will share six tons of that figure. The complex is located near the city of Takab in Iran’s northwestern West Azerbaijan province.

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