400m Tons Added to Iron Ore Reserves

Close to 400 million tons were added to Iran’s proven reserves of iron ore over the past one year, following the discovery of new deposits in the east of the country, said the head of Iranian Mines and Mining Industries Development and Renovation Organization. Mehdi Karbasian added that plans are underway to hand over the development of the newly-discovered mines to the private sector. Iran is home to 7% of global mineral reserves, with 68 minerals and more than 37 billion tons of proven reserves and 57 billion tons of potential reserves. According to the US Geological Survey, Iran holds the world’s largest zinc reserves as well as the ninth largest copper, 12th largest iron ore and 10th largest uranium reserves.