New copper, gold mines set to begin production next year - Tehran Times

AI desk brief

Iran's Mines and Metals Development Company said exploration work has more than doubled estimated reserves across 14 mineral areas, with development at selected copper and gold deposits expected to start next year once formal reserve registration is completed. The company said one or two mines could each support a dedicated processing plant, and that copper and gold will take a larger share of its investment portfolio by 2031 as it scales back commercial steel exposure.

The update is a modest supply-side negative for precious metals over time, though the impact is deferred and dependent on permitting, reserve registration and project execution. Aliakbari also said Iran has identified 121 million tons of rare earth reserves across two mines and has been pursuing overseas iron ore projects in Afghanistan, though regional security has delayed progress.