Economy, Business And Markets

Mining Fund Capital to Increase

Mining Fund Capital to IncreaseMining Fund Capital to Increase

The capital of the chamber of commerce, industries, mines, and agriculture’s Mining Fund is expected to reach 2 trillion rials from the current 680 billion rials, Tasnim news agency quoted the deputy chairman of the chamber as saying on Tuesday. Mohammad-Reza Bahraman said the fund has been revived since the current administration came to power, helping it increase the capital by 85%. Bahraman added that many countries such as Russia are willing to invest in Iran’s mining sector. The fund provides loans to mining companies and only takes their mine license as collateral. For mining companies, in particular small private sector companies, lack of equity is a major problem.