Iran has announced the discovery of a significant new gold deposit at the Shadan mine in the eastern province of South Khorasan.
According to local media, the newly validated vein contains approximately 7.95 million tonnes of oxide gold ore and 53.1 million tonnes of sulphide gold ore. The find is expected to substantially increase the proven reserves of one of the country’s most important gold mines.
The discovery comes as Iran’s economy faces severe pressure from international sanctions and internal inflation. Officials have stated that boosting gold reserves is a strategic move to strengthen the national economy.
Iran claims to be one of the world’s top central bank purchasers of gold, using the precious metal as a financial safe haven amid the depreciation of its national currency, the rial.
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