A major gold deposit has been discovered in one of Iran's largest mines, according to local media, a precious metal that could allow the country to reduce its dependence on foreign currency in the face of sanctions.

"The final reserves of the Shadan gold mine in the east of the country have seen a significant increase following the discovery of a huge gold vein," the Fars news agency reported Sunday evening.

Estimated at 61 million tonnes in total, this new deposit has been officially validated by the Ministry of Industry, Mines and Trade, according to the same source.

According to media reports, the country has 15 gold mines, the largest being the Zarshouran mine located in northwestern Iran.

The mining and metallurgical sectors are seen as crucial for Iran to counterbalance the effect of international sanctions that penalize its economy and block its oil exports.

Iran has significantly increased its gold purchases on the global market in recent years.

In September, the governor of the Central Bank of Iran (CBI), Mohammadreza Farzin, quoted by the Isna news agency, indicated that his institution was among the top five central banks in the world for gold purchases in 2023-2024. However, no specific figures for the reserves are available.

This strategy aims to "reduce Iran's dependence on foreign currencies" and "strengthen the resilience of the economy," particularly in the face of sanctions, the economic newspaper Donya Eghtesad pointed out last month.

Gold is a safe haven for many Iranians whose purchasing power continues to shrink due to hyperinflation and a chronic depreciation of the national currency, the rial, against the dollar.

According to the informal rate on Monday on the black market, one dollar was trading at approximately 1.17 million rials, while one euro was worth 1.36 million rials, according to the reference sites Bonbast and AlanChand.

The price of gold regularly reaches record levels.