Baku, Azerbaijan, April 16
By Elnur Baghishov – Trend:
Iran intends to produce gold bars in accordance with international standards in its northwestern Kordestan Province and put them up for sale at the London Stock Exchange, Mehdi Moradi, deputy head of Kordestan Industry, Mine and Trade Organization, told IRNA, Trend reports.
According to Moradi, each country can obtain a license to sell gold bars on international stock exchanges, but it is essential to produce 20 tons of gold bars per year.
Moradi added that it is possible to produce gold in such quantities in this province.
"If the gold mines in Saqqez start operating, it may be possible to melt the concentrates and ingots in the Sariguni mine," he pointed out.
According to Moradi, 50 percent of the gold produced in Iran is produced in Kordestan Province.
"1.24 grams of gold are produced for each ton at the Sariguni mine. According to the mine’s development program, the production will increase to 1.54 grams," he said.
The deputy head went on to say that should the 70-million ton estimates of the gold reserves of the Sariguni mine be confirmed, the amount of the province’s gold reserves – when combined with the 15-million ton reserves of the main gold mine located in Saqqez County of the province – will reach 85 million tons.
As such, the province will own more than 30 percent of Iran's gold reserves, Moradi said.
"Some 3,200 kilograms of gold were produced at the Sariguni mine last year (started 21 March 2018), with 3,100 kilograms produced in the preceding year," he said.
According to Moradi, Sariguni gold mine has produced 9 tons of pure gold and 4 tons of silver since 2015.
Noting that the initial investment in the Sariguni mine consisted of $78 million, the deputy head added that 1,000 people were provided with workplaces, 128 of which were foreign nationals.