Iran to attract foreign finances to double gold mine output
Baku, Azerbaijan, Nov. 14
By Fatih Karimov – Trend:
Foreign companies will invest in Iran’s largest gold processing complex, Zarshouran to increase the output by over two-fold, Mehdi Karbasian, the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), said.
Leading global companies have purchased the needed documents to finance the Zarshouran gold processing complex under Build–operate–transfer (BOT) model, Karbasian said, Fars news agency reported Nov. 14.
The project is aimed to increase the gold output from the current level of two tons to five tons, Karbasian said.
He did not unveil further details about the companies.
BOT is a form of project financing, wherein a private entity receives a concession from the private or public sector to finance, design, construct, and operate a facility stated in the concession contract.
Located near the city of Takab in Iran 's northwestern West Azerbaijan province, Zarshouran complex is planned to increase its output in the course of three years.
The Zarshouran gold mine holds 110 tons of proven reserves.
It was earlier reported that while the complex's second phase comes on stream by 2018 its gold production capacity would be doubled.
Earlier in May 2013, deputy head of the Geological Survey of Iran Behrouz Borna announced that Iran 's gold reserves are estimated to be over 340 tons.