TEHRAN – Iran expects to raise its annual gold production to 25 tons by the end of its Seventh Five-Year National Development Plan (early 2027), while attracting $30 billion in mining investments, according to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Omid Emami, deputy head of IMIDRO for development projects, said Iran currently produces about 12 tons of gold annually from its mines. He noted that overall mineral output exceeds 500 million tons a year, but gold is measured based on refined bullion content.

He said the Zarshouran mine expansion is a priority and will add at least three tons to output, while Goloujeh and other projects in Sistan-Baluchestan province are expected to contribute about one ton. In total, IMIDRO forecasts a minimum of four additional tons from new projects.

On investment, Emami said $30 billion has been earmarked for mining and metals development under the plan. Funding will come from a mix of bank loans, foreign investment, private sector participation and, to a lesser extent, state resources.

He acknowledged sanctions and potential snapback measures pose challenges, but said better coordination between customs authorities, the Central Bank of Iran (CBI) and other stakeholders is vital to mitigate risks.

Diversifying export methods, ensuring currency repatriation, and using tools such as barter could also help reduce the impact of restrictions, Emami added.

EF/