There are currently 15 gold mines operating in Iran.
Iran has announced the discovery of a large gold deposit at one of the country's key mines, reports AlArabiya.
A new large gold vein has been discovered at the private Shadan mine in South Khorasan province. The Fars news agency dubbed this mine "one of the most important in the country." The Ministry of Industry, Mining and Trade has officially confirmed the new reserves.
"The confirmed resources of the Shadan mine have significantly increased after the discovery of a huge gold vein," the report states.
According to media reports, the vein contains approximately 7.95 million tons of oxide gold ore and 53.1 million tons of sulfide. Oxide ores are usually easier and cheaper to extract.
Iran does not officially disclose the volume of its national gold reserves but claims to have significantly increased purchases in recent years.
In September, Central Bank head Mohammadreza Farzin reported that in 2023-2024, Iran entered the top five largest gold buyers among the world's central banks, according to ISNA agency.
Local media also quote a representative of the central bank, Yektu Ashrafi, who stated that the increase in gold reserves will help strengthen the economy of the country, which is under pressure from international sanctions.
It is noted that there are 15 gold mines operating in Iran, including the largest mine, Zarshuran, in the northwest of the country.
"Against the backdrop of inflation and chronic rial depreciation, gold remains one of the few tools for preserving value for many Iranians," the material states.
