Iran gold output to hit record this year – deputy minister (Exclusive)

Business Materials 2 July 2018 13:23 (UTC +04:00)

Tehran, Iran, July 2

By Kamyar Eghbalnejad, A. Shirazi - Trend:

Mehdi Karbasian, Iran’s deputy minister of industry, mining and trade, said Iran has stepped up its mine activities in the current Iranian fiscal year (started March 21), adding that the country expects its gold production this year to hit record 8 tons.

“Currently 270,000 square kilometers of Iranian mines have come under excavation, and that 200 million tons of minerals have been added to Iran’s reserves so far,” Karbasian told Trend on July 2.

More 300 million tons will be stored up after the completion of the excavations, he added.

The official also said Iran’s gold production would rise from 5 tons to 8 tons by the end of the current year.

Iran has identified as many as 15 mines so far, capable of yielding 320 tons of processed gold. The country’s gold mines are mostly concentrated in the country’s Azerbaijan region, where about 0.5 percent of the world’s minable gold reserves lie in West Azerbaijan province.

The Zarshuran gold complex is one of the most important mineral projects, widely referred to as the "golden giant of Iran".

Initial estimates have put recoverable gold deposits in Zarshuran at 55 tons, which could rise to 110 tons by further drilling in the anomalies.