Gold Reserves Discovered in Iran

Saturday, September 30, 2006
18:23
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JAMEJAMONLINE - A mining industry official said here on Friday Iran Geological and Mineral Explorations Organization has discovered 10 new gold reserves in the resource-rich country, according to Iran Daily.

Behrouz Borna, the organization’s exploration affairs manager, told Fars that two new gold zones have been found in Piranshahr and one in Sardasht, both in West Azarbaijan province, one in East Azarbaijan province, three in Khorasan Razavi and three others in Kerman province.
He said Iran’s proven gold reserves stand at 300 tons of which 39 tons has so far been discovered by the organization.

He also said that Iran is the world’s 57th largest gold producing country.
Borna further noted that Iran stands third in Asia in terms of demand for gold which he said stands at 100 tons a year.

“Over 60 percent of the world’s total 2,600 tons of annual gold production is consumed in Asia,“ he said. Some 16 tons of the 35 tons of gold for which exploration permits have been issued are in Sarigouni Mine, Kurdestan province.

Borna said earlier that 1,000 gold-rich regions have been identified in 20 provinces, stressing that the organization is focusing on 30 regions.
Following record high world gold prices, Iran has announced a major gold mining development plan across the resource-rich country, which itself is one of the major consumers of the precious metal. The organization is reportedly planning to develop exploration projects in gold-rich south Iran areas of Shahr-e Babak, Tangvieh and Dareh-Zaq in Kerman province.
Gold exploration projects will also be stepped up at Khorapeh, Zeytounjian and Barika in the northwestern province of West Azarbaijan.

Some 250 billion rials has been earmarked for 14 gold exploration projects during the Fourth Five-Year Plan (2005-2010).

Experts say Iran has the potential to produce 23 tons of gold per annum during the Fourth Plan.

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