Iran has confirmed the discovery of a major gold deposit at the Shadan mine, one of the country’s most important privately owned gold sites.
The mine, located in South Khorasan province in eastern Iran, now holds an estimated 7.95 million tons of oxide gold ore and 53.1 million tons of sulphide gold ore, according to state-affiliated Fars news agency.
The Ministry of Industry, Mines, and Trade has validated the new reserves. Oxide ore is considered easier and less costly to extract compared to sulphide ore, making the find economically significant for a country facing growing financial pressures.
Authorities confirm large-scale discovery
The Central Bank of Iran has not published official figures on national gold reserves. However, officials say the country has boosted gold purchases in recent years to help offset the impact of international sanctions.
In September, Central Bank Governor Mohammadreza Farzin said Iran ranked among the top five central banks worldwide in gold buying during 2023 and 2024, as reported by the ISNA news agency.
Iran discovers major gold deposit in eastern Khorasan with over 61 million tonnes of gold ore. pic.twitter.com/VisrMVl5Fn
— Globe Eye News (@GlobeEyeNews) December 2, 2025
Yekta Ashrafi, a Central Bank official, said increasing gold reserves could play a key role in stabilizing the economy, which has been under strain from Western sanctions.
The economic pressure has intensified following a 12-day conflict with Israel, during which U.S. forces reportedly targeted Iranian nuclear facilities.
Gold deposit in Iran seen as economic lifeline
Iran operates 15 active gold mines. The largest is the Zarshouran mine in the country’s northwest.
As inflation continues to rise and the rial weakens against the U.S. dollar, many Iranians are turning to gold as a more secure store of value.
With the local currency’s sharp depreciation, the newly uncovered gold deposit in Iran may offer both economic relief and strategic leverage.
