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 Azarbaijan province and its surrounding regions.