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Discovery Auction Winners Will Have Insurance Coverage/a ‘Discovery’ Database Will be Created Soon

Discovery Auction Winners Will Have Insurance Coverage/a ‘Discovery’ Database Will be Created Soon
Regarding the simplification of the investment conditions through signing agreements with the insurance corporation, IMPASCO’s discovery and mining vice-president said: “according to this agreement, the participation costs of the winner will be insured,”
According to the Mining Investment Insurance Corporation’s public relations, Hesam Moghadam Ali pointed to the agreements signed with the insurance corporation as examples of the simplification of the whole investment process, “according to this agreement, the auction winners’ participation costs would be insured, and this will increase the security in investments and will gain the trust of the investors.”
The discovery and mining vice-president of Iran’s Minerals Production and Supply Co. said, pointing out the participation of the private section in discovery auctions, “more than 10 related, powerful and interested companies of the private section have participated in the recent auctions, which is a cause for celebration. The presence of the related companies in the auctions can decrease the final costs and so create an economic competition and prosperity. We aim to give priority to the investors, and not put any limitations for them. Since we are interested in the private section’s participation, we decrease the risks and will facilitate the process for their participation. Through executing the discovery projects, the digital divide would be gone and we can create a general and complete database. Forming consortiums from the large mining companies means success, because the miners do not face any limitations regarding the speed of their process and affairs, and this is while they have financial support and the professional knowledge, and can also be the final consumers.”
 
Identifying 54 Promising Areas
According to the vice-president, Iran’s Minerals Production and Supply Co. has done discovery activities up to 28000 km2 since 2014, through 13 panels in the Provinces of Sistan and Balouchestan, South Khorasan, Mazandaran, Khorasan Razavi, East Azerbaijan, Kerman and Zanjan. The discovery activities in these panels resulted in the identification of 54 promising areas, for which there has been issued 7 discovery licenses, and 4 discovery permits and mining licenses. With the area registration in Sistan and Balouchestan we have also done discovery activities for 17000 km2. One of our problems during the process was the inquiry of the s.24 and the interference of the promising areas with the areas already registered. Our company has analyzed completely all the areas in these panels and therefore we have complete information and can give a thorough geological image of these areas. That is why we have been thanked and awarded a few times from the Ministry of Industry, Mien and Trade. According to the Iran’s Minerals Production and Supply Co.’s requests in 2017 and 2018, 11 panels more than 37000 km2 were assigned to the company. These panels are located in the Provinces Sistan and Balouchestan, Khorasan Razavi, Golestan, Kerman, Isfahan, Hamedan and Markazi, and are the current panel layers of IMAPSCO. The physical development of these projects, regarding the time they were started, is an average of 50 to 60% in each panel, and most of them will reach the defense session in the next 2-3 months.”
 
Giving the Priority to the Private Section
“We offered 11 panels about 72000 km2 to the Ministry of Industry, Mine and Trade, but because the private section was prioritized, only 10 panels were announced to the ministry at the end.” Said IMPASCO’s discovery and mining vice-president, “These panels are located in the Provinces Kohgiluyeh and Boyer-Ahmad, Isfahan, Hormozgan, Sistan and Balouchestan, Ghazvin, Guilan, Fars, Chaharmahal and Bakhtiari, Khorasan Razavi and South Khorasan. According to the schedule the operations in these panels should be finished in 6 months, and we hope to reach this deadline. The costs of these panels for consulting and laboratory services, controlling and monitoring is estimated 6 billion Tomans. We have created a study phase recently, and we have put all the potential ‘ore reserve’ areas in it.”
“We hope to create this database and cover the digital divide in this projects with IMPASCO’s consistent effort and execution of this project, IMIDRO and the discovery consortium.” Continued the vice-president, “After that, with the participation of the private section, we can activate the areas and pave the way to increase the country’s mineral supplies. What is important is the development of the discovery and mining activities in the country. Along the Mining perspective and road map, our purpose is to do discovery activities in primary phases and so grant the promising areas as investment opportunities to the private sections. The areas in which the risks will be decreased and will be more targeted then. We want to provide the legal formalities for the private section for any step they want to participate in.”
 
Creating a General and Complete Database
Moghadam Ali emphasized on the importance of this general and valuable database and said: “one of the purposes of providing for these panels is to collect the discovery data of the country. If we don’t have that data an area could be monitored several times by different organizations.”
“One of our problems,” the vice continued, “is the lack of focus and the enforcement of the law, because sometimes different provinces have different ideas about a single subject, which will only cost us more time to get the discovery license and so the country’s supplies will remain unknown. I want the managers in high positions not to see the mines as something that could destroy anything, since the areas with the mining license are way too small comparing to the whole country, and is less than other sections.”
 
 
 
 
Sep 15, 2019 12:27
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