Iran Discovers 3 New Gold Mines with 16 tons of Reserves http://english.farsnews.com/newstext.php?nn=9101141383 TEHRAN (FNA)- Iran announced on Wednesday that it has discovered three new gold mines with 16 tons of proven net gold reserves, increasing the country's gold reserves to 320 tons.

"Three new net gold mines with 16 tons of proven reserves have been found in Saqqez city in Kurdistan province (Western Iran)," Deputy Head of Iran's Geology Organization for Exploration Affairs Behrouz Borna told FNA on Wednesday. Borna reiterated that after the discovery of the three mines, the gold reserves of the country increased to 320 tons which is worth of $850mln. According to statistical figures released by the Central Intelligence Agency, Iran ranks 22nd in terms of the gold and foreign currency reserves. Earlier this year, the head of Tehran Chamber of Commerce, Industries and Mines, Yahya Ale-Eshaq said that Iran's gold reserves have set a new record, standing at nearly $17.5bln.