The largest gold processing plant in Iran will be inaugurated by the end of the next Iranian calendar month of Azar (December 21), Tehran Times daily reported Monday.

The Zarshouran plant, in West Azerbaijan province in northwest of Iran, will produce 3 tons of gold ingots, 1.25 tons of silver ingots and 500 kilograms of mercury per year, the project manager of the plant Hosseinqoli Qavanlou was quoted as saying.

Qavanlou said that the project will also create some 2,600 direct and indirect jobs.

According to the report, some 35.8 million euros has been invested in the project. The Zarshouran gold mine holds 110 tons of proven reserves.

In May, the Geological Survey of Iran deputy director Behrouz Borna announced that the total volume of Iran's gold reserves is estimated to be over 340 tons, according to Tehran Times.

There are 15 gold mines in the country and Iran ranks 12th in Asia and 42nd in the world in terms of gold reserves, said Borna.

He added that the country's annual gold production is projected to hit 10 tons in the current Iranian calendar year, ending on March 20, 2014.