IMIDRO to double gold output to 25 tons by 2029, plans $30b mining investment
Iran plans to double its annual gold production to 25 tons by the end of its seventh five-year development plan (2029) while investing $30 billion in expanding its mining sector, a senior official said on Friday.
“Ores production in the country currently stands at more than 500 million tons,” said Omid Emami, deputy for Mining and Mineral Industries Development at the state-owned Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).
“If we focus on gold, it is important to note that mines are usually assessed by contained metal. At present, about 12 tons of gold are extracted from Iran’s mines,” he told Mehr news agency.
Emami said the government’s development plan includes raising annual gold output to 25 tons. “Particularly, the development of the Zarshouran mine is on the agenda, which will add at least three tons to national capacity,” he said.
He added that the Golojeh mine and other deposits in the Sistan and Baluchestan Province are expected to contribute about one ton. “In total, IMIDRO projects that at least four tons will be added to the country’s gold capacity.”
On financing, Emami said the $30 billion needed to achieve the plan’s targets will come from a mix of bank resources, foreign investment, private sector capital, and government funding. “Government resources will play a smaller role in this sector,” the IMIFRO official noted.