The condition for the export of crude gold was announced

The condition for the export of crude gold was announced

The condition for the export of crude gold was announced: the president of the Union of Manufacturers and Exporters of Jewelry explained about the issuance of licenses for the export of crude gold from domestic mines and said: in exchange for exporting gold from mines, standard gold bars or equivalent currency must be imported.

In an interview with ISNA, Mohammad Vali, in connection with the letter of the Trade Development Organization to the Iranian Customs Export Office stating that the export of gold, silver and platinum to domestic mines is unimpeded after the approval of the Ministry of Industry, Mines and Trade and having the Central Bank license: According to the letter, from now on the export of gold, silver and platinum to domestic mines is unrestricted, while before this was not possible and there was no export permit. With the approval of the Ministry of Industry, Mines and Trade and the permission of the Central Bank, gold can be exported. Mining is possible, but the standard gold bullion or equivalent currency must be imported in return for the same amount of gold exported.

The head of the Jewelry Manufacturers and Exporters Union, noting that this letter gives the mines an opportunity to enter the competitive gold export market, said: “We have a duty to repair the damage caused by the gold export and we must be able to compete with the markets.” Let’s compete in this regard and enter the global markets in the near future. In the past, we could not export crude gold and could only export value-added gold artifacts, but now we can also export crude products and compete in global markets.

However, he stated that this action will lead to the sale of crude gold: “This decision has been made due to some issues.” In addition, the same amount of crude gold that we export should be equivalent to gold bullion or equivalent currency should be imported into the country.

In response to the possibility that foreign exchange may enter the country in exchange for exported crude gold and be considered for investment in other areas that do not help the gold industry, he noted: It is estimated that domestic mines produce five to 10 tons of gold. , While the circulation of gold in the country is about 300 tons and the production of domestic mines is relatively small compared to the circulation of gold inside.