Largest gold mine in Iran announces notable rise in proven reserves
Date
12/2/2024 2:13:17 AM
(MENAFN) Iran's largest gold mine, Zarshouran, has announced a significant increase in its proven reserves, generating optimism for a potential rise in production and job creation in the northwestern part of the country. Mohammad Parvin, acting head of Zarshouran mining Company, revealed on Saturday that recent exploration efforts had raised the mine's proven gold ore deposits from 27 million metric tons (mt) to 43 million mt. This expansion boosts the mine’s extractable gold resources to 116 mt, extending its operational lifespan from 25 years to 65 years.
The increase in reserves is expected to attract more investment and create additional job opportunities, particularly in Iran's West Azarbaijan province and surrounding areas. Zarshouran, owned by the state-run Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), is the largest gold mine in West Asia and the top producer of gold bars in Iran. The mine has a monthly output of over 100 kilograms, equating to more than 1 mt annually.
In response to environmental concerns, IMIDRO inaugurated a modern tailings dam at Zarshouran in February 2023 to manage the byproducts of mining activities more effectively. This development is part of Iran's broader strategy to expand its mining and metals sector, a move that is increasingly important given the ongoing international sanctions that have impacted the country’s crude oil exports.
The expansion of Zarshouran's gold reserves aligns with efforts to diversify Iran's economy and reduce reliance on oil revenues, offering a promising future for the mining industry and local employment.
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