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SHASTA Vice President Reviews TASICO\u2019s Strategic Priorities and Key Projects<\/h2>\n SHASTA Vice President Reviews TASICO\u2019s Strategic Priorities and Key Projects<\/h2>\nThe Vice President for Corporate Governance and Oversight at the Social Security Investment Company (SHASTA) visited Sadr Tamin Investment Company (TASICO) to review the performance of selected portfolio companies and their priorities and plans for the current year.<\/p>\n
Saeed Nayeb, Vice President for Corporate Governance and Oversight at SHASTA, attended a management meeting with Seyed Alireza Siasirad, CEO of TASICO, alongside senior executives and managers of TASICO and the chief executives of four selected portfolio companies: Pars Tamin Mining Development Company, Kurdistan Gold Mining Development Company, Tabas Parvadeh Coal Company, and Sadr Tamin Exploration and Drilling Company.<\/p>\n
Addressing the financing requirements of mining companies, Nayeb stressed the importance of developing innovative financing solutions, particularly for businesses operating in the gold sector.<\/p>\n
He noted that a review of gold sales strategies, including the timing and volume of sales, could create additional financing capacity and support the development and execution of growth projects.<\/p>\n
Nayeb also highlighted the strategic role of Sadr Tamin Exploration and Drilling Company within TASICO\u2019s value chain, emphasizing that the company should be viewed beyond its standalone financial performance.<\/p>\n
\u201cThe role of Exploration and Drilling is not limited to generating profit for the company itself. Its broader mandate is to create value across the TASICO Group,\u201d he said.<\/p>\n
He called for a clear development roadmap focused on accelerating exploration and drilling programs and maximizing the utilization of the company\u2019s technical capabilities, specialized equipment and human capital.<\/p>\n
Nayeb said Iran\u2019s mining sector represents a significant source of future economic growth and emphasized the need to position exploration and drilling as a core capability within TASICO\u2019s integrated value chain.<\/p>\n
He also called for a shift away from traditional budgeting toward a performance-management framework based on Objectives and Key Results (OKRs)<\/strong>, enabling resources and capital to be aligned more effectively with strategic priorities and measurable outcomes.<\/p>\n He added that, supported by its new management team and technical capabilities, Sadr Tamin Exploration and Drilling Company has the potential to become a significant value driver for TASICO.<\/p>\n Nayeb identified exports, innovation and transparency<\/strong> as three strategic priorities for SHASTA and emphasized that export growth would be a major economic focus during the current year.<\/p>\n \u201cExports represent an important growth opportunity for SHASTA and the national economy,\u201d he said, calling on SHASTA\u2019s subsidiaries and portfolio companies, particularly those within TASICO, to pursue international market opportunities more systematically.<\/p>\n Referring to the export potential of a number of TASICO companies, Nayeb stressed that existing capabilities should be converted into sustainable export revenues and stronger international market positions.<\/p>\n He specifically highlighted Iran\u2019s Copper Industries Company (Shahid Bahonar), emphasizing the need to restore the company\u2019s historical position in export markets and rebuild a meaningful and competitive international presence.<\/p>\n Nayeb identified innovation as the second major strategic priority, noting that innovation has not received sufficient attention across a number of industries in recent decades.<\/p>\n He welcomed the current management team\u2019s focus on innovation at TASICO and stressed that innovation should be embedded in the operating model and industrial value chain rather than treated as a standalone or symbolic initiative.<\/p>\n \u201cInnovation must become part of the business itself,\u201d he said, emphasizing the importance of translating innovation into operational improvements, productivity gains and sustainable value creation.<\/p>\n Nayeb also outlined SHASTA\u2019s program to strengthen transparency across its holdings and portfolio companies.<\/p>\n The program was initially launched on a pilot basis last year, with the relevant frameworks and procedures subsequently developed within SHASTA. According to Nayeb, the program will enter its full implementation phase this year.<\/p>\n The framework will assess and monitor transparency across three principal areas: corporate governance, information disclosure and internal controls<\/strong>.<\/p>\n He emphasized the importance of strengthening the role and effectiveness of internal audit functions and ensuring that internal auditors operate with the appropriate independence and institutional standing.<\/p>\n Nayeb also referred to the Soroush platform<\/strong>, which has been developed as a management dashboard to support monitoring and reporting across corporate governance, internal controls and other transparency-related areas.<\/p>\n He stressed that the transparency agenda would be implemented through a gradual, adaptive and continuous-improvement approach.<\/p>\n \u201cOur objective is to put SHASTA in a glass room,\u201d he said, underscoring the importance of accountability, visibility and transparent decision-making across the organization.<\/p>\n He added that more than 100 information disclosures had been made during the first quarter of the current year as part of the transparency enhancement initiative.<\/p>\n Seyed Alireza Siasirad, CEO of TASICO, highlighted the strategic importance of exploration and drilling to the future development of the holding.<\/p>\n He described Sadr Tamin Exploration and Drilling Company as a potential growth engine for other areas of TASICO\u2019s business.<\/p>\n \u201cIf Exploration and Drilling is positioned at its full potential this year, and its new management team delivers effectively against its objectives and responsibilities, the company can make a significant contribution to TASICO\u2019s growth and value creation,\u201d Siasirad said.<\/p>\n He also emphasized the strategic importance of the current cycle in the mining sector, noting that the industry periodically enters periods of exceptional opportunity.<\/p>\n \u201cTASICO appears to be entering such a period in the coming years. With the right equipment, disciplined planning and timely execution, we can capture these opportunities and maximize the value generated from them,\u201d he said.<\/p>\n Siasirad added that a stronger focus on exploration and drilling would enhance the company\u2019s capabilities, strengthen TASICO\u2019s exploration platform and create the basis for healthy competition with leading exploration companies outside the Group.<\/p>\n Siasirad also highlighted the strategic importance of gold under current economic conditions and referred to the provisions of the Seventh National Development Plan concerning the maintenance of gold reserves by pension and social security funds.<\/p>\n \u201cGold is a strategic reserve for pension and social security funds under current conditions and can play an important role in supporting the long-term sustainability of the social security system,\u201d he said.<\/p>\n He added that current policies concerning the divestment and sale of certain SHASTA and TASICO portfolio companies have created limitations in some areas. Nevertheless, he stressed that TASICO should increase its strategic focus on gold in the coming years with the objective of establishing a leading position across the gold value chain.<\/p>\n Siasirad also reviewed the latest developments at the Kurdistan Gold Project, based on a report presented by Behzad Allahyari, CEO of Kurdistan Gold Mining Development Company.<\/p>\n He noted that the project\u2019s execution pace had improved significantly in recent months and over the past year, reflecting the measures implemented by the company\u2019s new management team.<\/p>\n \u201cWith the financing secured and the necessary measures underway, we expect the Kurdistan Gold Project to reach the commissioning stage this year,\u201d he said.<\/p>\n According to the latest project report, overall physical progress has reached approximately 67%<\/strong>.<\/p>\n Soroush Kiani, Vice President for Corporate Governance and Oversight at TASICO, presented an update on the performance of Pars Tamin Mining Development Company, Taftan Gold Company, Kurdistan Gold Mining Development Company, Tabas Parvadeh Coal Company and Sadr Tamin Exploration and Drilling Company during the first quarter of the current year.<\/p>\n He stated that TASICO continuously monitors and evaluates the performance of its portfolio companies against defined performance indicators and strategic targets.<\/p>\n Kiani also highlighted the strong coordination between TASICO and its portfolio companies in executing the holding\u2019s strategic priorities and delivering against approved business plans.<\/p>\n Meysam Zakheri-Khatir, Vice President for Mining and Mineral Industries Development at TASICO, presented an update on three major projects identified as key growth and development initiatives for the holding.<\/p>\n On the Kurdistan Gold Project, he said that, supported by the financing allocated to the project and the measures implemented by the management team of Kurdistan Gold Mining Development Company, the project is expected to be completed by the end of the current year, followed by pre-commissioning activities.<\/p>\n He added that most of the processing plant\u2019s equipment has been procured and is ready for installation, with installation activities currently underway. Exploration of the Kurdistan gold deposit has also been completed, while the ore required to feed the processing plant for its first three months of operation is ready for transportation.<\/p>\n Zakheri-Khatir also provided an update on the new Iran Glass Wool Factory project, which has achieved more than 70% physical progress<\/strong>.<\/p>\n He identified the transportation of major equipment as the project\u2019s principal remaining bottleneck and said that the equipment is expected to be transported within the next 10 days.<\/p>\n Subject to the availability of the required financial resources and continued execution at the current pace, the project is also expected to reach completion by the end of the year.<\/p>\n Regarding the Rangan Silver Project, Zakheri-Khatir said that the first phase is expected to be completed by the end of October, in line with the project schedule.<\/p>\n The first phase is focused on the production of silver as the primary product through a flotation process, with initial implementation activities already underway.<\/p>\n He concluded by noting that the required financial resources for the three projects have been secured and that, provided no major execution challenges arise, TASICO expects to complete three flagship projects in the gold, silver and glass wool sectors<\/strong> during the current year.<\/p>\n The meeting concluded with an emphasis on disciplined execution, capital efficiency, operational performance and the accelerated delivery of TASICO\u2019s strategic growth projects.<\/p>\n","protected":false},"excerpt":{"rendered":" SHASTA Vice President Reviews TASICO\u2019s Strategic Priorities and Key Projects The Vice President for Corporate Governance and Oversight at the Social Security Investment Company (SHASTA) visited Sadr Tamin Investment Company (TASICO) to review the performance of selected portfolio companies and their priorities and plans for the current year. Saeed Nayeb, Vice President for Corporate Governance […]<\/p>\n","protected":false},"author":8,"featured_media":25020,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nExport Growth at the Core of SHASTA\u2019s Economic Agenda<\/h3>\n
Embedding Innovation Across the Business<\/h3>\n
Advancing Transparency and Corporate Governance<\/h3>\n
Exploration and Drilling Positioned as a Growth Driver<\/h3>\n
Gold as a Strategic Asset<\/h3>\n
Kurdistan Gold Project Approaches 67% Progress<\/h3>\n
Portfolio Performance Under Continuous Review<\/h3>\n
Three Flagship Projects Targeted for Completion<\/h3>\n
New Glass Wool Plant<\/h3>\n
Rangan Silver Project<\/h3>\n