Tuesday , January 25 2022

To save its deficit economy … Iran spoils its stock of precious metals


Iran is currently rushing to increase the extraction of gold and other economic minerals in an effort to save its deficit economy from serious US penalties, which gave Iran's finishing bankruptcy system.

The British "Express" newspaper is that the Iranian system has tended to increase mining activities in terms of metals such as gold and copper, and also legalizes that some of the mines have not licensed.

Major mining sites include the central province of Isfahan, the eastern Khorasan province and the eastern and western regions of Azerbaijan.

The company, as part of the Iran Mining and Mining and Mineral Recovery Corporation, has signed a memorandum of understanding with an industrial group and a private company on the development of craft mines, including six small gold quarries.

Iran has around 7% of the world's mineral resources, including 10% of oil and 16% of natural gas reserves, according to the Belfer Center for Science and International Affairs. It is estimated that 320 tonnes of gold deposits, zinc, copper and iron.

Demand for gold bullying in Iran has risen from 200% annual, the highest in more than four years, according to World Gold Council.

The Council said that the increase in demand for gold came to respond to the first round of US sanctions, which targeted the metal and automobile trade sector in the country.

"The weakness of the Iranian economy, the growing sense of uncertainty, and the collapse of the money boost demand for bullying gold," he said.

The second wave of US penalties came into force earlier in November, targeting Iran's oil and finance sectors.

Iran's President Hassan Rowhani has promised to avoid penalties and US, while Tehran officials have launched firebombs against the United States

You can visit this original news >> This news item published by the Yemen News website was published by the Arabian scene

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