Iranian authorities have announced the discovery of a large new gold reserve in the privately owned Shadan mine in South Khorasan province. According to local media reports on December 1, the Ministry of Industry, Mine, and Trade has confirmed the authenticity of the find. The newly discovered deposit includes approximately 7.95 million tons of oxide gold ore and 53.1 million tons of sulfide gold ore, which are expected to significantly boost the mine’s total reserves. The easily extractable oxide ore is seen as a major advantage for Iran’s mining sector. Officials believe this discovery could strengthen the country’s economy, which has been weakened by years of international sanctions and inflation. The Iranian rial continues to depreciate against the US dollar, prompting many citizens to view gold as a safe investment. Iran currently has 15 active gold mines, with Zarshouran being the largest. The announcement follows Pakistan’s recent report of a major gold discovery in Khyber Pakhtunkhwa province.