A New Era Begins in the Development of Kurdistan’s Gold Mines

In one of the most significant developments in the gold industry in recent years, the extraction of ore from the Qaleh-Qoleqeh Gold Mine has officially commenced. The event took place in Kurdistan Province in the presence of Seyed Reza Siasat-Rad, CEO of Sadr Tamin Investment Company (TASICO), and his accompanying delegation.
During a field visit on Wednesday, 6 August 2025, accompanied by Reza Vaniyan-Zadeh, Deputy for Mining and Mineral Industries Development; Kiani, Director of the CEO’s Office; and Hosseini, Director of Public Relations at TASICO, the status of the projects of Kurdistan Gold Mining Development Company, including the Saghez Gold Recovery Plant and the Qaleh-Qoleqeh Mine, was thoroughly assessed.
Today, through the efforts of the new management team and the support of the holding company, the Qaleh-Qoleqeh Gold Mine has reached the stage of renewed operation and the commencement of ore extraction. This move is not only a key step toward securing a stable supply of feedstock for the plant currently under construction, but also one of TASICO’s most significant operational achievements this year, playing a decisive role in creating value for shareholders.
The Saghez Gold Plant, which is under construction with an investment of more than 4 trillion tomans, will have the capacity to process 500,000 tonnes of ore annually. Upon completion, this major project will have the capacity to produce approximately 500 kilograms of gold bullion per year. With direct employment for more than 500 people, it is recognized as a key economic development project for Kurdistan Province.
During the visit, Siasat-Rad, emphasizing TASICO’s strategic approach to the gold value chain, stated: “The revival of the Qaleh-Qoleqeh Mine after eight years of suspension demonstrates the strength of our planning, consistency in decision-making, and confidence in local human resources. We seek to ensure that TASICO is a leader not only in production, but also in balanced regional development and the creation of sustainable value for shareholders.”
The visit took place only a few weeks before TASICO’s Annual General Meeting, at which the company’s performance during the past financial year and its future outlook will be reviewed. The resumption of extraction operations at Qaleh-Qoleqeh, alongside the tangible physical progress of the Saghez Plant, will be a notable strength in the holding company’s performance report.
Now that extraction activities at Qaleh-Qoleqeh have resumed, a promising new horizon has opened for TASICO’s gold industry—one that, through reliance on dormant assets, scientific management, and a commitment to sustainable development, promises a bright future for the gold value chain and the country’s economy.

More

Less

More

Less