Tehran (Pakistan News) Iran has announced the discovery of a new and large reserve in one of the country’s most important gold reserves.
The new discovery was made in the privately owned “Shadan Gold Mine” located in the eastern province of South Khorasan, which is considered one of Iran’s most important gold mines.
According to Fars News Agency, the new reserve has been formally confirmed by the Ministry of Industry, Mines and Trade. The report said that the proven reserves of the Shadan Gold Mine have increased significantly after the discovery of a large new gold vein.
According to the statement, the new reserve contains 7.95 million tons of oxide gold and 53.1 million tons of sulfide gold. Oxide gold is usually cheaper and easier to extract.
In September, Iran’s Central Bank Governor Mohammad Reza Farzin said that in 2023-24, Iran was among the world’s five largest gold-buying central banks. According to central bank official Yekta Ashrafi, the increase in gold reserves will play an important role in supporting the country’s economy despite the pressure of international sanctions.
Iran currently has 15 active gold mines, the largest of which is the Zarshoran mine, located in the northwest of the country.