The purpose of the Mining Investment Fund is to Finance the Exploration for mines,, training and measures to promote the mining sector through the entity for the Management of Mineral Resources. In particular it is involved in:
- the financing of all or part of geological exploration, projects and contracts for the provision of geo services;
- the financing of activities to enhance the capacities of personnel with respect to the development of the mining sector;
- the financing of all or part of the State’s acquisitions of interests in the mining sector;
- the financing of the control of Mining Activity and in particular of the Surveys, and the quantitative and qualitative testing of mining and petroleum products, exercised by the national authorities of Mines, Geology, by the Inspector General for Mines and Geology and by the anti-fraud Squad; and
- the financing of activities that promote the sector.
The budget for the Mining Investment Fund is registered each year as revenues and expenditures in the Finance Act. The amount allocated to the Mining Investment Fund corresponds to the amount resulting from the application of Article 165 of this Code. The disbursement of these credits shall be through the expedited disbursement procedures to be determined by joint order of the Ministers in charge of Mines and Finance.