Iran discovers new gold, Iron ore mines

Iran discovers new gold, Iron ore mines

Tehran, Iran, Jan.5

By Milad Fashtami - Trend:

Iran discovered new iron ore mines with the total capacity of 90 million metric tons in the first three quarters of the current Iranian calendar year (which started on March 21, 2014).

Iran's exploratory operations in the mentioned period increased by 264 percent, Iran's ISNA News Agency reported on Jan. 3.

Exploratory operations in Zarshoran gold mine, located in the Western Azerbaijan Province, also resulted in discovery of another 30 metric tons of gold reserves.

The Zarshoran mine's plant has the capacity to produce 3 metric tons of gold per year.

Iran's current gold production capacity is only 2.5 metric tons, but once the Zarshoran mine comes on stream the figure would rise by more than two-fold. The mine will also produce 1.25 metric tons of silver per year.

Head of the Geological Survey of Iran Behrouz Borna said in May 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.

Iran's proven mineral reserves stand at 37 billion tons.

The country is ranked among the 15 major mineral-rich countries of the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India and Afghanistan.

The important mines of Iran include coal, metallic minerals, sand and gravel, chemical minerals and salt. Iran has the world's largest zinc and second largest copper deposits and ranks ninth for its iron reserves.

The official website of Iran's Industry, Mine, and Trade ministry names exploratory operations in aluminum and Iron ore mines as the top priorities of the ministry for investment.

Aluminum and Iron mines are also among the four top discovery priorities.

According to the ministry, Iran daily produces 1.2 million metric tons of minerals.

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