|Iran discovers molybdenum deposit||
TEHRAN – A molybdenum deposit, with an estimated reserve of 21.7 million tons, has been discovered in Iran’s northwestern East Azarbaijan province.
Molybdenum is highly used in different industries, mostly in iron and steel making industries.
Iran’s mineral reserves rose by 1.56 billion tons in the past Iranian calendar year, which ended on March 20.
In January, IRNA quoted ex-Iranian Industry, Mine, and Trade Minister Mehdi Ghazanfari as saying that Iran's existing mineral reserves will sustain for 140 years if 400 million tons of the reserves are extracted annually.
Iran's discovered mineral reserves are valued at over $770 billion, he noted.
The potential mineral reserves are estimated to be 57-58 billion tons, of which 37-38 billion tons have been proven, he said.
Iran possesses two percent of the world's total mineral reserves.
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