Iran not only has the second-largest gas reserves and the fourth-largest oil reserves in the world, but is also among the top 15 mineral-rich countries in the world. According to the Iranian Foreign Ministry website, the country has more than 68 types of minerals, with the world's largest zinc reserves, the ninth-largest copper and iron reserves, the 11th-largest lead reserves, and the largest gold reserves in the Middle East.
According to the Geological Survey of Iran, total confirmed mineral reserves amount to 37 billion tons, with the potential to reach 57 billion tons, with an estimated value of about 770 billion USD, excluding oil and gas.
Gold production up to 8.5 tons/year
Among Iran's mineral resources, gold is increasingly asserting its position as a strategic resource, especially in the context of the country's efforts to diversify its economy and reduce its dependence on oil under the pressure of international sanctions.
Zarshuran in Takab city - the largest gold mine in Iran and the Middle East. Photo: YJC Iran
According to statistics compiled by the CEIC economic data platform, based on the annual report of the US Geological Survey (USGS), Iran's gold mining output has changed significantly in the period from 1990 to 2022. In the early period, especially in the 1990s to early 2000s, Iran's gold production remained at a very low level, such as in 2001, it only reached 192 kg.
However, since the mid-2000s, Iran has begun implementing large-scale projects such as the Mouteh mine (Isfahan) and the Zarshuran mine (West Azerbaijan), which have helped to increase production sharply. The peak was in 2019, when gold production jumped to 8.5 tons. In recent years, production has stabilized at 7 tons/year, dozens of times higher than in the early stages.
Although still modest compared to powers like China or Russia, this figure shows great potential, as Iran has only exploited the tip of the resource "iceberg".
In fact, dozens of large and small gold mines have been identified, mainly concentrated in the provinces of West and East Azerbaijan, Kurdistan, Yazd and Khorasan. Of these, Zarshuran - the largest gold mine in Iran and the Middle East region - has reserves of about 43 million tons of gold ore, equivalent to about 140 tons of recoverable gold, according to Trend News Agency.
Technological, infrastructural and institutional barriers
However, Iran has yet to turn this resource into a real growth engine. In fact, the Middle Eastern country's mining industry is being "held back" by major barriers.
Prolonged sanctions by the US and the European Union not only limit access to export markets but also block access to modern mining technology and international capital.
Iran is significantly increasing the presence of gold in the national economic structure. Photo: IranWire
Many mining equipment are classified as “dual-use technology” due to concerns that it could be used for military purposes, and are therefore banned from export to Iran. As a result, domestic companies are forced to maintain manual mining methods that are energy-consuming, inefficient, and difficult to scale up.
In addition, the technical infrastructure of Iran’s gold mining industry is still in its infancy. Many gold mines with commercial potential are located deep in rugged mountainous areas, lacking stable electricity grids, water supply systems and transport connections.
A typical example is the Zarshuran mine which currently needs large investments to build a power station, upgrade transportation routes and complete modern processing lines.
In addition, Iran’s legal system related to the mining industry is still considered complicated. Licensing procedures take many years while the profit sharing mechanism and resource ownership are unclear, making many foreign investors hesitant to invest.
Gold as a strategic defense weapon
Unlike oil, which is tightly regulated in the global financial system, gold can be stored, transported, and traded flexibly, beyond the control of Western institutions. Amid soaring inflation, volatile exchange rates, and increasingly tightening sanctions, Tehran has been forced to turn to “non-traditional” assets like gold to protect the value of its national assets and maintain liquidity.
Amid rising tensions in the Middle East, Iranians are trying to protect their wealth by investing in gold. Photo: The Atlantic
In fact, there are signs that Iran is significantly increasing the presence of gold in its national economic structure. As of the end of February 2025, the Middle Eastern country imported more than 100 tons of gold bars, three times more than the total import volume for the whole of 2024.
Previously, according to data from the Iranian Customs Authority, in just over a month in early 2025, the country imported up to 81 tons of gold bars - a spectacular increase of 234% in output and more than 300% in value compared to the same period in 2024, according to Al Jazeera.
In light of the latest developments in the Middle East, experts say Iran is using its gold reserves as a “strategic defense tool” to counter exchange rate shocks, which are a direct result of the financial war launched by the US and its allies, according to Press TV.
“When the USD payment channel is blocked, gold becomes the optimal tool to protect asset value and maintain national liquidity,” said Tehran-based financial expert Nikoumanesh.
“We are seeing the return of gold not only in state coffers but also in people’s pockets. This is a natural reaction of the economy when it is surrounded by sanctions,” he added.
“Without its ample gold reserves, Iran will face further waves of devaluation,” Mr. Nikoumanesh warned.
Gold price today June 29, 2025 decreased, SJC gold bars decreased by 500,000 VND/tael. Gold price today June 29, 2025 decreased sharply in the context of easing geopolitical tensions, creating opportunities for investors to start taking profits. SJC gold price decreased by 500,000 VND/tael.
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Source: https://vietnamnet.vn/khong-chi-dau-mo-iran-con-so-huu-vu-khi-hang-chuc-trieu-tan-duoi-long-dat-2416132.html
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