Possibility to raise capital of the Mining Fund
Deputy Minister of Industry, Mining and Trade: The Mining Investment Fund can focus on raising capital up to a trillion dollars to meet its future goals.
According to the International Stone Exhibition of Iran, Jafar Sarkhini at the meeting of Mining and Mining Industries think tank added: Iran Mines and Minerals Renovation and Development Organization (Imidro) has a great role to play in raising the investment fund of the mining activities and its valuable efforts. The plan has come to raise capital.
The Deputy Minister of Mines and Minerals of the Ministry of Industry on the legal status of the Mining Insurance Fund noted: The establishment of this fund as well as the organization of mining engineering system was envisaged in the Mines Act of 1998.
He expressed hope that while increasing the investment fund of the Mining Investment Insurance Fund, we will see an increase in the efficiency and effectiveness of this complex in the development of private mines.
The justification for raising the fund's capital
According to the report, Imidro CEO Khodadad Gharibpour also said at the meeting that the development of the country's mining sector needs to be supported by the Mining Investment Insurance Fund and the development of the country's mining sector needs the support of the Mining Investment Insurance Fund.
Imidro CEO added: "The mining industry's growing need for raw materials and because the mining sector is at the forefront of the production chain, there has been a focus on strengthening the mining and transportation fleet in the mine, raising the fund's capital by one. Justifies a trillion billion tomans.
According to him, participating in the new exploration program and providing exploration and drilling equipment, expanding the mining fleet as well as strengthening the Fund's supportive role in the small-scale mines recovery plan are among the tasks of the fund.
Gharibpour added: "Mining capital is not enough for upgrading the Mining Insurance Fund, so in the first step this fund will increase to 300 fifty billion USD and 500 billion USD next year. There is no need for government assistance.
Reminding of the intermediary role of the insurance fund between the bank and the investor, he said: "If there is to be a change for the country's mining sector, it needs support."
The Deputy Minister of Industry noted: Today, four thousand inactive mines are in dire need of support and financing, so now large mines such as the Tello, Gulohar and Sangan and other mines on the ground are very scarce, and the exploration of the mines does not require further depth. Are financial.
Gharib added: Imidro organization has two approaches to fund activity, first the issue of decorative stones and the creation of markets for it and the second is the issue of precious and semi-precious stones.
He added: in the field of precious and semi-precious stones trying to create a market in Isfahan and we believe that in this field with a hundred thousand dollars can be created for anyone.
Gharibpour, referring to mining problems by the Small Scale Redevelopment Committee, said: "The committee is now in the possession of the Mining Insurance Investment Fund where the performance of the Mines Insurance Fund is very good and in this regard the fund is trusted and quickly The capital gains momentum.
The Deputy Minister of Industry, Mining and Trade stated that the Finance Committee is in charge of the implementation of the Mines Mining Investment Fund, adding: "The Fund is a trusted institution for the development of mines in the country, and in addition to implementing its plans. , Can be effective in modernizing the mining fleet.
Financing Mining Insurance Fund
The CEO of the Mining Investment Insurance Fund said: "The Fund intends to finance the capital market for micro-projects that are not publicly owned by the Mining Insurance Fund."
Farid Dehghani added: "The insurance fund is also targeting capital market financing, regardless of the constraints of the banking system."
In addition to increasing the value of issued insurance policies, he said, there are fifty-nine cases worth four thousand eight hundred and eighty billion riyals ready to issue insurance policies, which are completed by the applicant and cooperating with operating banks. Will be issued.
The Director of the Mining Investment Insurance Fund added: The total liabilities of the Fund amounted to seven thousand three hundred and seventy eight billion rials, in addition to raising the fund's claims without legal action.
According to him, so far one and seven hundred and forty-two items of investment and credit insurance have been issued in the amount of one thousand twenty-eight billion toman, of which five hundred ninety two and two billion toman belong to the last two years.
According to the report, in addition to Jaafar Sarkhini, Deputy Minister of Industry, Khadadad Gharib Porriis, Imidro Managing Director, Mohammad Bagher Alyad, IDRO Managing Director, Mohammad Reza Bahraman, Head of Iran Mining House, Ardeshir Saad Mohammadi, CEO of National Copper Industries Company and Mohammad Masoud Saad The CEO of Parsian Investment Co. was present at the meeting.
* IRNA
