A gold market expert said: The issuance of gold deposit certificates on the Iranian Commodity Exchange has improved the situation of gold mines.
According to Ashura News, citing Mehr News Agency, a gold market expert said: The issuance of gold deposit certificates on the Iranian Commodity Exchange has improved the situation of gold mines, and this tool has become a turning point for securing production financing in terms of increasing production profitability, timely payment of government taxes and duties, and the creation of development plans.
Yahya Safaei pointed out the role of deposit certificates and gold funds in the capital market in improving the situation of mines and said: The issuance of gold deposit certificates was a turning point for the Zarshuran Group because before the issuance of the gold deposit certificate and in the years 1400 and early 1401, although the Zarshuran Group had more than 2000 kilograms of gold, it was forced to borrow from IMIDRO to secure financial resources. However, after the issuance of the commodity deposit certificate, a transparent and legal market was created for the sale of gold and the company's sales increased.
Growth in production profitability with the issuance of gold deposit certificates
He continued: In this way, the issuance of gold deposit certificates caused the company's sales to increase from 400 to 500 kilograms to 1,300 kilograms in 1401 and 1402, and in 1403, more than this amount was achieved. Therefore, with the issuance of gold deposit certificates, the company's sales increased by 3 or 4 times compared to before, and this year there is the same difference compared to last year.
Safaei stated: The commodity deposit certificate sales market is much more active than the physical gold bullion sales market for various reasons because the entire country participates in the commodity deposit certificate market and not just a specific group that can buy gold, such as gold funds that anyone can easily invest in. Therefore, this issue is definitely effective so that people can easily invest in the gold deposit certificate market.
Timely payment of government fees and duties
Regarding the impact of gold deposit certificates on the payment of government fees and duties for mines, he said: In previous years, the Zarshuran Group paid government fees and duties late and was subject to fines, but the issuance of gold deposit certificates caused this trend to completely reverse in 1403, so that before the end of the last fiscal year, we settled our debt with the Ministry of Finance and were not subject to fines.
Creating new development plans
The gold market expert pointed to the development plans of Zarshuran and explained: In terms of development plans, the Zarshuran complex is thinking about making new investments because it no longer has a problem in securing financial resources, and the documents for this have also been prepared, but because Zarshuran is on the privatization organization's transfer list, this issue is progressing somewhat slowly. In this regard, phase 2 of the factory is scheduled to be launched, and the documents related to it have also been prepared.
Improving the situation of mines with gold deposit certificates
He continued: Therefore, we can boldly say that the issuance of gold deposit certificates has improved the situation of mines 100 percent because in the past we could not easily sell one-kilogram gold bars because the entire market was in the hands of a certain group of people and they bought from state-owned companies. However, with the launch of gold deposit certificates, a large number of individuals, investors, and the general public can easily invest in this gold market with any capital, and this is certainly effective and beneficial for all mines, producers, and suppliers of gold.
Safaei emphasized in the end: With the issuance of gold deposit certificates, a transparent market has been created for the sale of gold from mines, and the launch of gold deposit certificates has been a turning point for the production of gold mines in the country, especially the Zarshuran complex.
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