Economy, Business And Markets

Gold Reserve Put Out to Tender

Gold Reserve Put Out to TenderGold Reserve Put Out to Tender

Nikuiyeh gold zone, located in Qazvin Province, has been put out to tender to attract private sector investors to develop the reserve, announced director general of Mineral Exploration Bureau of Iranian Mines and Mining Industries Development and Renovation Organization, Ali Asghar-Zadeh, on Thursday. The official noted that a European mining firm has expressed readiness to purchase participation bonds and cooperate with the project, without naming the company. “Prospective bidders have until October 18 to submit their offers to IMIDRO,” IRNA quoted the official as saying. The reserve spans an area of about 10 square kilometers, where operations are at the semi-detailed exploration phase.