Economy, Business And Markets

Mouteh Gold Production Surges

Mouteh Gold Production SurgesMouteh Gold Production Surges

Mouteh Gold Complex (MGC) has reported 19 percent hike in its gold production during the first 7 months of the current Iranian year (March 21-October 22) compared to the same period last year, according to Fooladnews. “The MGC has produced 167 kg of gold bullions in the seven-month period, while the company had recorded a gold production total of 140 kg within the same period a year earlier,” Fooladnews quoted Hamid Montazeri, MGC managing director as saying. Montazeri added that the company’s output this year demonstrates stronger-than-expected results, indicating that the company is 24 percent ahead of schedule in terms of work-in-process inventory. He stated that the company produced 24 kg of gold bullions in the seventh month of this year (Mehr, ended October 22), recording a 20 percent growth compared with the same period last year. As the report said, upon the launch of the new gold extraction plan, aiming to extract gold from low-grade minerals, the MGC’s annual gold production will increase further.