Economy, Business And Markets

Mineral Reserves at 40b Tons

Mineral Reserves at 40b TonsMineral Reserves at 40b Tons

Iran is home to over 40 billion tons of mineral reserves, 400 million tons of which are extracted annually, according to Jafar Sarqeyni, deputy minister of industries, mining and trade.

“Self-sufficient in nearly all mining sectors, Iran is in fact a major exporter of minerals,” he was quoted as saying by Mehr News Agency, adding that coal and manganese are the only minerals imported by the country.

According to US Geological Survey, Iran holds the world’s largest zinc, ninth copper, 12th iron ore and 10th uranium reserves.

Overall, Iran holds more than 7% of global mineral reserves.

The diversity of minerals is also noteworthy. There are more than 68 minerals, including coal, iron ore, copper, lead, zinc, chromium, uranium and gold deposits.

  Zarshouran Gold Reserves Upped

New explorations in Zarshouran Gold Mine, located in West Azarbaijan Province, have added to the mine’s proven reserves that now stand at 150 tons, says the head of Exploration Operations Department of the Iranian Mines and Mining Industries Development and Renovation Organization.

Ali Asgharzadeh added that six potentially rich mineral zones are yet to be explored in the region.

“Upon the completion of these operations, the mine’s proven reserves could increase by more than 50%,” he said.

Annual production capacity currently stands at 3 tons of 24-carat gold, 2.5 tons of silver and 1 ton of mercury.

This is all part of a broader project to explore 200,000 square kilometers of Iran’s mineral-rich areas over a three-year timespan, based on an agreement signed by the Ministry of Industries, Mining and Trade and the Geological Survey of Iran in December 2013.