Report: Iran opens gold plant, doubling production

AP News
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Posted: Nov 15, 2014 5:13 AM

TEHRAN, Iran (AP) — Iranian state television is reporting that the country has inaugurated a new gold-processing plant that will double the country's annual production to 6 tons.

The report says First Vice President Ishaq Jahangiri attended the inauguration Saturday of the plant near Takab in northwestern Iran.

It says the new processing facility, built next to Iran's Zarshouran gold mine, also will produce an estimated 2.5 tons of silver and 1 ton of mercury a year.

State television says Iran previously produced an estimated 3 tons of gold a year.

This is part of Iran's "economy of resistance" to counter sanctions imposed over Tehran's contested nuclear program. The Islamic Republic is currently negotiating a final deal over its atomic program with world powers.