Iran’s largest gold mine reports increase in proven reserves
Iran’s largest gold mine has revised up its proven reserves with authorities hoping it would lead to a major increase in output and would significantly boost jobs in northwestern Iran where it is located.
Caretaking CEO of Zarshouran mining company Mohammad Parvin said on Saturday that the proven gold ore deposits in the mine had increased from 27 million metric tons (mt) to 43 million mt based on the results of recent exploration activities.
Parvin said the increase raises the extractable gold resources in the mine to 116 mt, adding that this means the mine’s life will also increase from 25 years to 65 years.
He said the development will lead to more investment and jobs in Iran’s West Azerbaijan province and its surrounding regions.
Zarshouran is owned by Iran’s state-run metals and mining company IMIDRO. It is the largest gold mine in the West Asia region and is the largest producer of gold bars in Iran with a monthly output of nearly 100 kilograms or more than 1 mt per year.
IMIDRO launched a modern tailings dam at Zarshouran in February last year to store byproducts of mining operations in the area amid criticism that the mine and its operations were damaging the environment.
Iran has sought to expand its mining and metals sector in recent years amid sanctions that have affected the country’s crude oil exports.
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