Israeli intelligence reports Iran moved thousands of centrifuges into a fortified underground site, prompting US military discussions.
Israeli intelligence believes Iran transferred thousands of uranium enrichment centrifuges into tunnels beneath Pickaxe Mountain, a fortified site reaching 300 to 450 feet underground. The move followed a 12-day conflict in June, with Israel sharing the intelligence with the US in recent months.
The site, known as Mount Kolang in Iran, has been under surveillance for years. A US strike on the location would mark a significant escalation, potentially increasing geopolitical tensions and prolonging market uncertainty. Analysts warn such an attack could heighten risks for oil prices and safe-haven assets.
President Trump explicitly named Pickaxe Mountain as a potential target in a July interview, calling it a candidate for a “nice big fat shot.” The development adds pressure on already elevated Gulf shipping risk premia, with markets likely to monitor escalation risks closely.