The Forum for Partners in Iran's Marketplace

September 2018, No. 88

IMIDRO Exclusive

40 Tons Added to Gold Reserves

Deputy minister of industry, mine and trade and CEO of Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO), said: “The discovery of large open mines is almost over but there are high underground reserves and deep mines, which demand private sector involvement.”

Dr. Mehdi Karbasian said: “To meet the needs of the manufacturing units, small and medium mines should be activated so that the activities of big factories will continue without problems.”

For example, Karbasian pointed to the Mouteh gold mine in Isfahan’s Mourcheh Khort and said: “The plant’s annual production of gold was up to 230 kg a year until sometime ago, but using the soil and minerals of the surrounding mines, its production last year reached 600 kilograms.”

He added: “Similarly, we have begun to expand Golgohar Mining and Industrial Company and MIDHCO, which are iron ore consumers.”
He said that in February last year a memorandum of understanding was signed and it became operational today.

According to him, the project will be funded with the support of the investment fund for mineral activities and by receiving 12 thousand billion rials from the resources of the National Development Fund as well as IMIDRO budget.

About the measures taken to stop crude exports, he said that last year, five million tons of concentrate and iron sponge exports were recorded.

Before the 11th government took over, one of the threats to the mining and mineral sector of the country was reduction of reserves, Karbasian said. Therefore, the new government launched the plan for exploration in coordination between IMIDRO, the Ministry of Industry, Mine and Trade and the Iranian Geological and Mineral Exploration Organization through a memorandum of understanding, which is implemented by IMIDRO, he added.

The IMIDRO CEO added: “Planning for the exploration of 270,000 square kilometers of the country’s areas was prioritized and started seriously from the spring of 1393 (2014/15), and so far, 200 million tons have been added to the total national reserves, and up to 300 million tons of new reserves are expected.”

He said following new discoveries 40 tons of gold was added to the country’s reserves.

Karbasian added that there are gold mines in 16 provinces of the country and in Sistan and Baluchestan, Kurdestan, West Azarbaijan, and South Khorasan, new mines have been discovered. He said the gold production will increase from five to eight tons by the end of this calendar year (March 20, 2019).


Subscribe to

  September 2018
No. 88