Iran's Major Gold Mine Reports 16 Percent Surge in Output of 6 Months
Gold production in a key Iranian mine has increased by 16 percent in the first half of the current Iranian year (March 20, 2020-September 21, 2020), a report by the Iranian government’s metals and mining company (IMIDRO) said.
Gold production at Mouteh mine, located in Isfahan Province in Central Iran, reached 162 kilograms (5,714.38 ounces) from March 20, 2020 to September 21, 2020.
The report cited the head of the mining company at Mouteh Alireza Talarias saying that the mine had expected to reach an output target of 140 kilograms over the period.
Talari said annual output from the mine is expected to reach 300 kilograms (10,582.2 ounces) by the end of the fiscal year in late March.
Increased output at Mouteh has come despite a global decline in gold production in recent months mainly as a result of measures adopted by governments to curb the spread of the new coronavirus disease.
Iran’s mining and metals sector has seen a general increase in activity in recent years mainly as a result of sanctions imposed by the US on the country’s sale of crude. Washington has enacted similar sanctions targeting Iran’s trade of metals although the bans have largely failed due to technical difficulties that exist in tracking shipments.
Iran, a country with 440 metric tons of gold reserves, has seven active gold mining complexes. Annual production figures were stable at 5.8 tons in 2018 and 2019, far short of domestic demand of 70-80 tons a year.
source: Fars News
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