Gold Bullion (GOLD): Iran's central bank reserves amount to 5...

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Tuesday, 06/05/2012 10:13:35 AM

Tuesday, June 05, 2012 10:13:35 AM

Iran's central bank reserves amount to 500 tons of gold

Jun 05, 2012 (Trend News Agency - McClatchy-Tribune Information Services via COMTEX) --

The central bank of Iran has reserves of as much as 500 tons of gold, the central bank governor announced, without elaborating.

Mahmoud Bahmani told the Mehr News Agency that the bank embarked on reserving gold several years ago.

Some 90 tons of new gold reserves were discovered in Iran in the past calendar year which ended on March 19, said the deputy head of the Geological Survey of Iran.

Behrouz Borna told the ISNA News Agency that 23 tons of proven reserves and 67 tons of probable reserves were explored last year. The new reserves are located in Kordestan and Sistan-Baluchestan provinces, west and east of the country, respectively, he added.

On April 10, Borna announced that three new gold reserves have been discovered with 16 tons of proven net gold deposits.

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