According to the International Exhibition of Iranian Stone, Farid Dehghani stated: Last year, the Investment Insurance Fund of Mineral Activities increased its capital from one hundred and forty-two billion and three hundred million tomans to three hundred and fifty billion tomans, which this year reached five hundred billion tomans. It turns out that this increase in capital this year could play a very important role in the development of mining activities.

The CEO of the Mining Investment Insurance Fund stated that the fund is a state-owned company with 100% of its shares owned by Imidro, adding that a total of 500 billion tomans of the fund's capital was provided by Imidro and was not from any public budget source.

Announcing the end of discussions on fund financing, he said: "We are now in the process of legalizing that this increase in capital could lead to the expansion of the fund's activities in the area of ​​its constitutional powers."

Referring to the key role of the Fund in the field of risk coverage and facilitating access to financial resources for insurance in the years of its activity, the advisor to the Deputy Minister of Mines of the Ministry of Industry, Mines and Trade said: The company has a very important role in development by providing credit insurance policies in operating banks. Small-scale mines, with this capital increase, plan to cover exploration, extraction, and processing with higher power this year.

Dehghani said that in accordance with the developed insurance policies, services are provided to the private sector in order to cover the risk. He said that the fund will provide more services to mineral applicants in the field of facilitating access to financial resources in proportion to capital increase. Credits in operating banks As well as increasing the number of these operating banks, this service will increase the number and figure.

Creating diversity in fund services

The Managing Director of the Mining Investment Insurance Fund emphasized that last year the Fund covered a very high number of mines with the same three hundred and fifty billion Tomans of its capital, emphasizing: According to statistics, during 1397 and last year, more than Seventy percent of the fund has been funded for the past 15 years, and this has been a turning point in the fund's activities to serve the private sector; But in the current situation, as capital increases, we will diversify our services and try to diversify in parallel with increasing the volume of our operations.

He said: "Also, in connection with the restoration of small mines, or in other words, the national plan of resistance economy emphasized by the government, the issues related to the financing of this plan (national plan for the restoration of small mines) are also the responsibility of the fund." In other words, small mines refer to the executor of the project (Iran Minerals Production and Production Company) and then refer the case to the fund to provide the necessary guarantees to access financial resources, which will be very important in our position and function. Mining can be revived by injecting new financial resources.

Entering the field of supplementary exploration with the aim of reviving and extracting small mines from recession

Dehghani said that in another part of the plan, the insurance fund will take action in the field of aid to exploration, especially supplementary exploration; "We believe that exploration is one of the most important areas that will lead to the development of mining activities," he said. One of the reasons for the lack of development of existing mines is the lack of additional exploration during extraction or exploration, which should have been done after the previous discovered reserves, but this lack of investment in this sector leads to stagnation or decommissioning of the mine. It happens.

"For this purpose, we will try to help develop exploratory activities, especially complementary explorations, within the framework of the Small Mines Rehabilitation Project," said the CEO of the Mining Investment Insurance Fund. This could be a significant help in reviving and recovering from the recession, although there has been no discussion of further exploration until this year.

We will move the central bank and the central capital market together

Regarding the admission of the fund to the stock exchange, the advisor to the deputy minister of mining, Wazrat Samat, said: "One of the programs of the new year of the fund is to take action to diversify the financing of various resources in the country." So far, our financing has been only from banks, and in fact we have been bank-oriented; But this year, we plan to move from a central bank to a central capital market. If we can bring the central bank and the central capital market together, different mines and processing and extraction complexes can choose their financing sources according to their type of activity and financial and functional position.

Referring to the fund's future goals, Dehghani said: "Accepting the fund as a guarantor and also issuing the fund's securities on the stock exchange in the name of the Mining Investment Insurance Fund are among the things we intend to do; Of course, the acceptance of the fund as a guarantor pillar, due to the variety of appropriate contributions in the field of resource provision, will be more important to us and we will follow it.

Review of the fund's financial statements by the Commodity Exchange for acceptance

Noting that the stock exchange is reviewing the fund in terms of credit and financial statements for acceptance as a guarantor, he said: "In addition, we have introduced a collection for issuing securities in the name of the company so that we can proceed in parallel if this If the two move in parallel, we can do a good job of providing resources.

In response to a question about the fund's activities in the field of mineral exports, Dehghani said: "In the field of exports, what is covered by insurance is in the Export Guarantee Fund." The basis of our work is to develop the mining and processing sector. When the fund was established in 2001, it started to cover the risk of exploration, but after that, due to limited access to financial resources in the mining sector, the fund facilitated access to financial resources.

The CEO of the Mining Investment Insurance Fund announced the fund's efforts to facilitate access to financial resources for the supply of machinery, as well as to facilitate access to machinery and modernize them for the private sector, and said that with the help of the Ministry of Industry, Mines and Trade and Imidro One of the main programs of the Ministry of Silence will be action. The government's preparations for this are under consideration, and then the necessary measures will be taken.

Severe decline in production and processing if machinery is not modernized

He stressed: "We can boldly say that this year will be a new event in the field of modernization of mining machinery. One thing to keep in mind is that if we don't modernize and upgrade our machinery right now, this lack of improvement and modernization will lead to a sharp drop in production in the mining sector and, accordingly, in the coming years, a decline in processing.

Dehghani added: "In the coming years, in the mining sector, especially in large mines, and for large contractors, if the modernization is not seriously pursued, we will suffer a serious and fundamental damage."

The CEO of the Mining Investment Insurance Fund continued: "If there is no supply in the field of mining machinery and equipment, all machinery will suddenly fall, in which case we will lose a lot of mining and mining activities, and these are the current active machines." It also remains in a state of repair that will cause them to leave the production cycle, which is one of the worst things that can happen.

* ISNA