The growth of the mining sector and the mining industry is accelerating
The development of the mining sector and the mining industry can generate sustainable revenue for the government and, while creating jobs, transform the country's economy to achieve independence and self-sufficiency and the development of a non-oil economy.
According to the International Stone Exhibition of Iran, the chairman of Imidro's executive board announced the allocation of the organization's budget of 18,000 billion rials for the development of projects in this sector from domestic sources this year. According to him, a significant part of this credit will be allocated to exploration, mineral supply and infrastructure.
Khodadad Gharibpour, among a number of Imidro managers, pointed to the importance of the organization's development measures, which have a cost dimension, and added: Increase aluminum, copper, lead and zinc, etc.
He stressed that the move would be in line with Imidro's development role.
He said that the organization's budget would double and quadruple in the year of production jump, adding that the development of the mining sector and the mining industry could generate sustainable revenue for the government and create jobs for the country's economy to achieve independence and self-sufficiency. Development of non-oil economy will change, therefore, the amount of investment credits from domestic sources of Imidro in this year's budget has been approved equal to eighteen thousand billion rials, which has doubled and quadrupled compared to last year's approved budget.
Exploration, infrastructure and mineral supply
The Deputy Minister of Industry, Mines and Trade said that part of this budget will be allocated for the development of mining infrastructure and mining industries and the completion of explorations.
Gharibpour added: "Considering that mining and mineral industries play a leading role in the economy, another priority of Imidro will be the supply of minerals to manufacturing industries in the country."
He announced: In order to supply and increase the production of minerals for this year, expert meetings of the production program were held with the presence of the managing directors of the covered manufacturing companies, the managers of the complexes as well as the specialized managers of the organization.
increasing production
The chairman of Imidro's executive board said: "Due to last year's production performance and considering the potential capacities, this year's production program has been increased so that the large manufacturing industries do not face a shortage of minerals." This planning is in line with the leap of production and economic growth.
Gharibpour added: "In Imidro's budget this year, the approved budget for mineral production this year has increased by an average of 25 percent compared to last year."
He said the move would put projects such as Iran's Aluminum (Jajarm) and Southern Aluminum (SALCO) at full capacity.
Use of Export Guarantee Fund Capacities
The Imidro CEO said the Export Guarantee Fund meets exporters' political and trade risks in accordance with the standards, and that mining and mining companies can take advantage of this capacity to guarantee their trade.
Khodadad Gharibpour added: "In the current situation, it is necessary to guarantee international trade and investment transactions for companies in the mining and mineral industries companies."
He said: "This year we are facing events such as the Corona crisis, falling commodity prices and demand, and on the other hand we are in a situation of sanctions.
Gharibpour added: "Given the focus of the leap of production in the national economy, the role of facilitator complexes will become more prominent and economic enterprises can use such capacities to achieve their production and export goals."
Coverage of export credit risks by the fund
The CEO of the Export Guarantee Fund of Iran also stated in a speech: The role of this fund is to support and facilitate exports by covering export credit risks through credit insurance policies and other financial instruments.
Afrooz Bahrami continued: "In the last ten years, this fund has covered eighteen billion dollars of non-oil exports and during this period it has paid four hundred and seventy million dollars in damages."
He said that the fund has two hundred and forty million euros of foreign exchange resources, adding that this year's budget will increase the capital of the fund to one hundred million euros.
Bahrami said that one of the pillars of the mutation is the production of export development, adding that helping to finance export companies is another mission of the fund.
Referring to other duties and missions of the Export Guarantee Fund of Iran, the CEO of the Export Guarantee Fund of Iran said: Other missions in this series can be mentioned.
