2024-25 Performance Review Meeting of Kurdistan Gold Mining Development Company Held
The 12-month performance review meeting for 1404 of Kurdistan Gold Mining Development Company was held in the presence of Seyed Alireza Siasat-Rad, CEO of Sadr Tamin Investment Company (TASICO); Saeed Aboudi, Chairman of the Board of Directors of TASICO; Soroush Kiani, Deputy for Strategy and Oversight of TASICO’s Subsidiary Companies; other deputies and managers of the holding company; and Behzad Allahyari, CEO of Kurdistan Gold Mining Development Company. According to the Public Relations Department of Sadr Tamin Investment Company (TASICO), at the beginning of the meeting, the performance of Kurdistan Gold Mining Development Company was evaluated by the holding company’s managers. Subsequently, the CEO and managers provided explanations regarding the company’s 12-month performance and its future roadmap. Seyed Alireza Siasat-Rad, CEO of TASICO, referring to the latest status of Kurdistan Gold Mining Development Company and its 12-month performance during the previous year, stated: “The project to commission the Kurdistan Gold Plant is of great importance and high priority for TASICO, and we will make every effort to improve the financing of this project.” Referring to the need to define a strategic reserve and anticipate measures to address the various issues of the project, he added: “We must make the best possible use of the experience of Pars Tamin Company and Sadr Taftan Gold Company, and from today, we should think about transferring this successful experience.” The CEO of TASICO, emphasizing the use of local workforce in specialized and managerial positions at Kurdistan Gold Mining Development Company and the need for their professional training, said: “Some technical issues at this company must be assessed starting today and before the commencement of operations and production so that potential risks can be anticipated and managed, because unlike the Sadr Taftan Gold project, we are dealing with a compact project with geographical limitations. Therefore, its implications in areas such as maintenance and repair, HSE, environmental issues, and others must receive greater attention.” Saeed Aboudi, Chairman of the Board of Directors of TASICO, also stated at the meeting: “Given that TASICO is a publicly listed company, capital market expectations of the holding company will also depend on the performance of its subsidiaries, from listed companies to non-listed companies.” Emphasizing the need to comply with corporate governance requirements, he added: “Operational and financial risks are predictable and measurable, and given the special nature of the Kurdistan Gold Company project, its committee must also be highly operational and powerful. One of the important issues that must be resolved concerns the value-added tax of Kurdistan Gold Company. The second issue concerns the capital increase of this company, which must be reviewed.” Regarding the latest status of Kurdistan Gold Mining Development Company, Soroush Kiani said: “Despite various issues and challenges, the Kurdistan Gold Plant construction project made significant progress during 1404, and we hope to witness the production of the plant’s first gold bullion this year.” He added: “Given the Sadr Tamin holding company’s strategy of investing in the gold and silver sectors, Kurdistan Gold Mining Development Company is among the holding company’s priorities, and efforts are being made to transform this company into a driving force for sustainable development in Kurdistan Province.” Behzad Allahyari, CEO of Kurdistan Gold Mining Development Company, also stated during the presentation of the company’s 12-month performance report: “The construction project of the Kurdistan Gold Company’s plant is in a very favorable condition, and in recent months, despite the wartime conditions and the problems resulting from them, approximately four percent physical progress has been achieved in the project, bringing its overall physical progress to approximately 71 percent.” He continued: “With the continued support of Sadr Tamin Holding in providing financing, a significant portion of the issues in this project has been resolved, and with the acceleration of the project’s progress, we hope to witness the successful completion of this project soon.”
