Iran to launch largest gold processing plant

Iran will launch its largest gold processing plant next month, a media report said here Monday.

The largest gold processing plant in the country will be inaugurated by the end of the next Iranian calendar month of Azar (Dec 21), reported Xinhua citing Tehran Times.

The Zarshouran plant, in West Azerbaijan province, will produce three tonnes of gold ingots (a material, usually metal, that is cast into a shape suitable for further processing), 1.25 tonnes of silver ingots and 500 kg of mercury per year, said Hosseinqoli Qavanlou, the project manager of the plant.

According to the report, some 35.8 million euros has been invested in the project. The Zarshouran gold mine holds 110 tonnes of proven reserves.

In May, the Geological Survey of Iran deputy director Behrouz Borna announced that the total volume of Iran's gold reserves is estimated to be over 340 tonnes.

There are 15 gold mines in the country and Iran ranks 12th in Asia and 42nd in the world in terms of gold reserves, said Borna.

The country's annual gold production is projected to hit 10 tonnes in the current Iranian calendar year, ending March 20, 2014, he added.