Both domestic and foreign investment in the mining sector require the provision of transparent and specialized reports using clear and comprehensible definitions. This is essential to attract investors with confidence and to eliminate the fear of capital loss and monopolization of this sector by a select few. Achieving this goal can be facilitated through monitoring and establishing standard guidelines globally by a specialized association. With this perspective, in advanced mining countries, institutions and associations have been established to set policies and standard guidelines for reporting and valuing mineral reserves and assets. 

These entities, in collaboration with experts in the field, not only create a roadmap for stakeholders but also ensure the accuracy of the prepared reports, thereby providing assurance to all professionals, investors, and consultants regarding the validity of the information. Given that Iran ranks second in gas reserves, fourth in oil reserves, and twelfth in mineral resources worldwide, and is also among the top ten countries in terms of natural resource reserves, the significance of Iran’s mining sector is considerable. This underlines the necessity for proper valuation and reporting in the country. 
 

The Valuation of Mining and Domestic Assets of Mines (VAMDAM), registered under number 58068 on 20th September 2024 at the Tehran Registration Office for Companies and Non-Commercial Institutions, has a capital of 20,000,000,000 Rials. This institute was established with the following objectives: 

- Valuation of mineral resources and reserves, including infrastructure, technical facilities, branding, etc. 

- Technical and economic evaluation of mining projects and related industries. 

- International collaboration with similar institutions worldwide to foster global connections.

.Standardized reporting for mines and mineral industries, aimed at presentation to the stock market and over-the-counter market-

.Standardized reporting and feasibility studies for mines and mineral industries, aimed at presentation to banks-

 Establishment of a regional mechanism for creating a joint organization with neighboring countries focused on the valuation and- reporting of mines (reserves and resources)

 Development of a national and comprehensive protocol for standardized reporting on mineral reserves, resources, and assets- Engagement with organizations and the private sector to promote a culture of reporting and valuation in mining and mineral .industries