56% growth in mineral insurance issuance last year
Managing Director of Mining Activities Investment Insurance Fund: Last year, compared to 1398, the issuance of guarantees and mineral insurance policies by this fund increased 1.56 times and recorded a growth of 56.6%.
According to the International Iranian Stone Exhibition, Farid Dehghani added: "Last year, despite the corona pandemic and the resulting restrictions, a new record was set in the issuance of insurance policies, especially credit insurance policies."
According to him, last year, a total of 40 guarantees and insurance policies worth 4,786 billion rials were issued by this fund, of which the share of guarantees (operating credit insurance) was 31 items worth 4,744 billion rials and the share of investment insurance was 9. The item was worth 42 billion rials.
The CEO of the Mining Investment Insurance Fund announced the value of ready-to-issue insurance policies to be more than 16 thousand and 828 billion Rials.
Dehghani said: "Last year, in terms of the type of support provided in the mining sector, effective steps were taken in this fund, which were in the areas of exploration, rehabilitation and reconstruction of small and medium mines, signing new memoranda and multiple resources to finance mines."
He pointed out: to be completed this year to complete this year.
Dehghani reminded: Due to the exchange rate fluctuations, the closure of registration of orders for mining machines and their non-entry into the country, some insurance policies, despite completing the documents and ready to receive facilities, were not issued last year, which is hoped to reopen the order registration system. To be completed by the end of May this year.
He pointed out: "Now, in order to achieve e-government, all services from this fund to the private sector are done electronically, and only at the end of the work and for the purpose of verification, documents are received in person from individuals."
Realization of the slogan of the year
The CEO of the Mining Investment Insurance Fund, referring to the naming of this year as "Production; Supports and Obstacles "by the Supreme Leader of the Revolution, emphasized:" This fund is considered as one of the governing institutions in supporting mines, and for this reason we try to remove obstacles and support production. "
He referred to the fund's decision to subsidize facility profits to domestic producers of mining machinery last year and said: "Any of the mining sector activists, if they bring a pre-invoice from domestic producers of mining machinery to the fund, will benefit from a 4% facility subsidy." They will be.
Dehghani pointed out: "In order to support domestic producers, we also announced that whoever can get a pre-invoice from Hepco, 70% of the production facilities of those machines will be prepaid to the mentioned factories so that Hepco does not have a serious liquidity problem related to mining machines."
He added: "The country's mines need new machinery for renovation and equipment, and if the existing machinery can not achieve the planned extraction for this year, with the support of Imidro and the realization of capital increase to one thousand billion tomans, the fund's potential in supporting small mines significantly will increase.
The CEO of the Mining Investment Insurance Fund reminded: Some mining machines have technologies that are available to a few companies in the world and investing in their production is not economical according to the circulation required by our country, according to this category in the production of "dump trucks". Over 100 tons, loaders, shovels and heavy shovels should be handled with caution.
He added: "On the other hand, there are machines that can import their parts in the form of CKD or SKD and increase the depth of construction inside them."
Dehghani stressed that there are no ceilings or restrictions on providing the mentioned facilities and subsidies: this fund supports the mining sector and has various ways of providing machinery or facilitating access to them for mining sector activists on the agenda.
Planning to double the fund's capital
He announced plans to double the capital of the fund from the current 500 billion tomans to one thousand billion tomans by the end of this year and added: After that, we will take steps to increase the fund's capital to 1,500 billion tomans.
Dehghani stated: With the increase of capital and according to the laws governing the fund and the permission of the Central Bank, in practice the ability to issue insurance has reached three thousand and 500 billion tomans, which in the small mining sector has led to a huge and significant change in production. Development and employment, of course, with the support of Imidro and the realization of capital increase to one thousand billion tomans, the fund's potential in supporting small mines will increase significantly.
* IRNA
