to the s. 31 of the Mines’ act, and the corporation’s article of association,
The Mining Investment Insurance Corporation provides these services in order to
decrease the risk of getting the mining license and exploration/discovery
Providing insurance coverages to secure the investments (investment insurance
Insurance coverages for the dangers which may result in permanent or temporary
suspensions of operations like exploration/discovery, extraction, ore dressing
and mineral processing.
Insurance coverages for dangers which might compromise the estimated results in
the approved exploration/discovery operations and mine construction.
Insurance coverages for dangers which may render the extraction, ore dressing
or mineral processing operations uneconomic.
Granting facilities in order to provide for the financial needs of the
investors through credit insurance policies. The Corporation, covering all or
some parts of the unwanted damages to mining activities in all the stages of
discovery, extraction and processing, and guaranteeing some or all the granted
loans to the mining investors through credit insurance policies according to
its rules and regulations, is covering all the damages and dangers to these
activities which overall decreases the risk of investment.
Providing consolers and suggestions to the miners in order for them to come up
with the best decisions in mining activities.
Mining Investment Insurance Corporation works in line with the country’s
macroeconomic goals, and tries to empower and support the private investors in
mining. The corporation was established in 2001 according to the s. 31 of
Mine’s Act passed in 1998 in
order to reach sustainable development in mining section, and guarantee and
secure investments in mining activities, along guiding and leading these
Some of the goals are summarized as thus:
- Reducing the risk in investment through issuing
the investment and credit insurance policies.
- Attaining sustainable development in mining and
- Creating jobs in mines.
- Creating the appropriate environment for
exporting the minerals.
- Providing proper incomes for the country’s
- Helping the development of mining industries and
jobs related to them.
- Increasing the mining sector’s share in social
and economic development of the country.