Economy, Domestic Economy
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Mining Infrastructure Development Prioritized

Mining Infrastructure Development PrioritizedMining Infrastructure Development Prioritized

Providing adequate infrastructure for the mining projects across the country is the government’s first priority regarding this sector, Es’haq Jahangiri, first vice-president, said on Saturday.

“Given the importance of the mining industry, a special budget will be included in the budget for this sector,” IRNA quoted him as saying during a ceremony held to inaugurate Zarshooran gold mine complex in northwest of the country.

He said that Iran has unique mining resources that must be exploited resourcefully, and added, “The private sector must be encouraged to invest in the mining industry.”

Describing mining industry as one of Iran’s most important arenas for applying the newly drafted Industrial Development Strategy, Jahangiri said, “Before this, we had no major project aimed at using Iran’s abundant gold reserves. Zarshooran gold mine complex is the biggest gold mine in the country now.”

Zarshooran gold mine complex, located near the city of Takab in West Azarbaijan Province, was officially inaugurated yesterday as a national project aimed at increasing the country’s gold output to over 6 metric tons per annum.

Zarshooran, which produced its first sample of gold ingot two months ago, holds 110 tons of proven gold reserves. Officials say more exploration could probably add to the number in the near future.

During the first phase of the project, 10 kilograms of gold will be extracted per day, while the figure is expected to double during the second phase, which is due to begin by 2018.

The mine is estimated to have a lifespan of 20 years based on its current proven reserves.

More than 830 billion rials as well as about 19 million dollars through a foreign currency credit line have been invested in the project. Zarshooran project is expected to produce 2.5 tons of silver and a ton of mercury every year in addition to over 3 tons of gold of 99.999% purity.

 

Financialtribune.com