TEHRAN- The CEO of the Mining Investment Insurance Fund, noting the fund's support for 960 private mines, stated that 2,815 mining machines have been placed on track for procurement and modernization.

Ali Khatibi, in an exclusive interview with IRNA, said: "The majority of active mines in the country are in the hands of the private sector. Out of a total of 6,451 active mines, 6,005 belong to this sector, and the fund has so far supported 960 mines by issuing credit insurance policies."

He added: "The aim of this support is not just to provide financial resources; rather, efforts have been made to reduce investment risk, enabling the equipping of mines, increasing operational capacity, and ensuring production continuity."

The CEO of the Mining Investment Insurance Fund identified exploration as one of the riskiest stages of mining activity and stated: "So far, 1,141 exploration areas have been covered by the fund's insurance, and in the Iranian year 1404 (starting March 2025), 33 exploration investment policies have been issued. Within this framework, about 65,000 hectares of covered areas have entered the exploration activities phase."

Khatibi continued: "Reducing exploration risk allows investors to continue operations such as drilling and trenching with greater confidence, increasing the likelihood of identifying and developing new reserves. Support for deep drilling, especially operations at depths exceeding 1,000 meters, is also on the fund's agenda."

He also identified equipment modernization as another pillar of the fund's support.

EF/MA