Iran opened a new processing facility for the yellow metal which was reported as the largest plant in the Middle Eastern region. Iranian authorities hope to double gold production utilizing a novel.
According to Tehran, it now has the capacity to mine a maximum of three tons of pure gold annually.
The plant is situated close to one of Iran’s richest mines known as Zareh Shuran. This is some 35 kilometers from Takaab City (northwest Iran) where precious metals are extracted.
Gold ore reserves of this mine have been placed at approximately 20 million tons.
Iranian officials say production in this facility can go up to three tons every year which can increase the country’s gold production twofold. Construction of this plant is worth more than $31 million, sources claim.
Production capacity is expected to reach six tons each year while production for silver and mercury can come to 2.5 and 1.5 tons in that order.
Such accomplishment is considered part of the supposed “economy of resistance.” This policy covers improvement of the domestic economy with maximum use of Iran’s resources together with the elevation of a knowledge-based system and modernization. The eventual target of Iran is to become the leading knowledge- sourced economy in the MENA.
Iran remains under harsh sanctions imposed by Western powers in 2012 because of its nuclear program which is allegedly aimed at building up atomic missiles.