Mining Insurance Fund Development Programs
Mining Investment Insurance Fund Managing Director: Mining Investment Insurance Fund provides a platform for companies, mines and small-scale mining industries that operate in the field of processing and extraction and have transparent audited financial statements to be able to publish from the capital market. Have bonds, bonds and self-financing bonds.
According to the International Iranian Stone Exhibition, the Mining Investment Insurance Fund is a support organization of the mining sector and the only specialized insurer in this sector that covers the risks in the entire chain of mining and financing activities by issuing various types of insurance policies and guarantees.
The Mining Investment Insurance Fund was established in 2001 to strengthen and support investors in the mining sector, and aims to achieve sustainable development in the mining sector and to ensure the investment and security of mining activities and to guide and lead these investments.
So far, this fund has succeeded in issuing insurance policies worth over twelve thousand two hundred and nineteen billion rials in order to cover risks and supply and equip machinery for more than one thousand seven hundred and fifty areas and mines, which are mainly related to deprived and less areas. It has been developed.
Last year, the Mining Investment Insurance Fund was more successful than previous years in issuing insurance policies, diversifying insurance policies, and collecting claims as a governing body; In such a way that in the sixteen years of its activity, the amount of issuing its insurance policy reached about six hundred and thirty-two billion tomans. This is despite the fact that the fund has achieved this figure in the last two years. Last year, the Mining Investment Insurance Fund issued thirty-eight operating credit insurance policies worth five hundred and nineteen billion tomans, not investment insurance policies worth thirty-four billion tomans. In total, the amount of guarantees and insurance policies in the amount of forty Seven and amounted to five hundred and twenty-two billion tomans.
The fund has been able to play a very effective role in the field of small mines and in the implementation of this national plan of resistance economy as a financing arm and covering the risk arising from mining activities.
The purpose of the fund for issuing insurance policies this year is five hundred billion tomans, and qualified miners can apply for a guarantee and insurance policy. Also this year, the fund seeks to support small mining rehabilitation projects for supplementary exploration and risk-taking.
Expansion of the financial sphere
According to Farid Dehghani, CEO of the Mining Investment Insurance Fund, the fund was also able to take action in connection with the development of activities last year in connection with obtaining a capital increase license for three hundred and fifty five hundred billion tomans. Three hundred million tomans of the fund has reached three hundred and fifty billion tomans and is to be increased to five hundred billion tomans and then to one thousand billion tomans from the cash brought by the major shareholder (Imidro) by the end of this year; This can play a very important role in the development of mineral activities.
Variety in the provision of services and diversity of financial instruments
He added that the fund has also put financial services from the capital market system on its agenda. Therefore, measures have been taken to accept the fund on the stock exchange as a guarantor pillar, and now the administrative steps of this process are underway. If this happens, the Mining Investment Insurance Fund will provide a platform for companies, mines and small-scale mining companies that operate in the field of processing and extraction and have clear audited financial statements to be able to export capital from the capital market by issuing Murabaha bonds. , Have loans and self-financing.
The insurance fund also intends to invest in the capital market in the financing sector if the product is pre-sold in the capital market by issuing futures and with a collateral. The fund hopes to secure the mines, whose products are sold on the stock exchange, with these securities so that they can finance the capital market, which could promise a new solution in microfinance. A company has already been introduced as a pilot to review and audit it, and it is hoped that in the next three months, it will be approved as a guarantor pillar in the stock exchange so that in the first half of this year it can be financed from the stock exchange.
According to Dehghani, all mines that meet the conditions of the stock exchange agreement to finance; Once the fund's policy is finalized, they can apply for a capital market facility. Funding from the capital market has advantages and disadvantages compared to the banking system; Each company can use each of these markets according to its specific financial conditions, and this will be a positive point in providing financial resources for small-scale companies.
Dehghani, referring to the plan to implement the customer relationship mechanism (CRM) in the insurance fund, added: "We hope that this system will be completed in the fund this year;" Because if it is implemented in a real sense, a serious step will be taken to revive e-government, and we will have something to say as a leading company in Imidro.
