News ID: 275762
Published: 0326 GMT October 20, 2020

Iran finds deposit with 8 tons of gold reserves: Official

Iran finds deposit with 8 tons of gold reserves: Official

Iran has made a gold discovery in the southeastern province of Sistan and Baluchestan, where definite reserves of eight tons of the precious metal have been found, a provincial official said.

“The discovered gold mine in Sistan and Baluchestan is one of the country’s economic mines that was recently identified. After a long time, its exploration and survey stages were completed and the license for exploration of the mine with definite reserves of eight tons of gold was issued,” the province’s deputy governor for economic affairs, Mandana Zanganeh, said, Press TV reported.

For the exploration, the call for attracting investors will be published by the end of the current Iranian month (today), so that the capacities of this zone can be used for the economic prosperity of the region and creation of jobs, Tasnim News Agency quoted her as saying.

Zanganeh called Sistan and Baluchestan the “mineral rainbow” of Iran, where some of the most economic mines of the country are located with reserves of antimony, titanium, copper and gold.

The copper mine is one of the high-grade prospects discovered in the province, which is in the phase of exploratory studies about to be completed by the end of the current Iranian calendar year (March 2021), she added.

“The copper reserves identified at the mine are expected to reach 400 million tons, but this amount can increase significantly after the exploration is completed.”

Zanganeh noted that about 60 percent of Sistan and Baluchestan has been surveyed in recent years and up to 200 mineral prospects have been identified.

“Studies on large antimony, titanium, copper and gold mining projects, which are among the country's economic mines, have either been completed or are in progress and will be completed by the end of the year,” she added.

Zanganeh said major companies have announced readiness to invest and establish mineral processing industries in the province.

Sistan and Baluchestan is home to a titanium mine, with officials saying in the past that more than $4.2 billion in investments were needed to bring it fully online

Fanuj country in the province is estimated to sit on 3.6 billion tons of titanium ore reserves. It is home to a cluster of 30 deposits, each capable of yielding one million tons of titanium ore per year.

Because of its strength, light weight and corrosion resistance, titanium is highly prized in aircraft manufacturing, with further applications in military, aerospace and marine industries, dental implants and industrial processes.

According to provincial officials, more than 80 mines of titanium, iron ore and copper have also been explored in Fanuj.

Last month, Dariush Esmaeili, a deputy industry, mine and trade minister, told a mining forum in Tehran that Iran has identified 1,000 promising gold prospects, and that “gold in Iran will play a role similar to steel”.

The country is a leading producer of steel in the world, with officials saying exports continue despite the US sanctions.

According to Iranian officials, possible gold-bearing zones have been identified in 21 provinces across the country. Iran’s proven gold reserves are currently estimated at 340 tons lying in 24 mines.

Iran’s gold production capacity is put at more than nine million tons a year. The Zarshuran gold complex in Takab, northwestern Iran, is one of the most important mineral prospects, estimated to hold 110 tons of reserves. Aq Darreh, also in Takab, operates with 2.2 tons of gold a year.


Resource: Press TV
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