Home / Business / US sponsoring investment in Afghani mines

US sponsoring investment in Afghani mines

Minister of Mines and Petroleum of Afghanistan Nargis Nehan has announced 43 new large and small-scale mining projects available for private sector investment and development.

In a keynote address at the ongoing Afghanistan Mining Investment Forum at Dubai International Financial Centre, the Afghan minister further highlighted 14 new opportunities open to international investors.

The projects span a number of commodities and are situated in 16 of the country’s 34 provinces, according to USAID INVEST, which further says that Afghanistan mineral assets have an estimated value of $100 million, which is likely to be spent on initial assessments, exploration and evaluation work for these projects over the next 12 months with investments increasing significantly in following years as projects advance. Tenders will cover a wide range of commodities including oil and gas, gemstones, copper, gold, marble, and talc.

“For the first time ever, Afghanistan is opening opportunities for international investors to bid on ruby, emerald and lapis lazuli projects. Many of the commodities, such as marble, travertine and cement, selected for tenders have strong domestic and regional market demand. Others, such as gold, copper talc, iron ore, marble and oil and gas have established international markets,” she said.

“Our government has worked hard to put in place a new Minerals Law and transparent regulations and procedures for investors to take advantage of these new opportunities, and I am proud to say that Afghanistan’s mining sector is ‘open for business,’” she added.

The Forum is being organsied by INVEST, a global initiative of the U.S. Agency for International Development, USAID, to mobilise private investment in partner countries.

Information on the set of new mineral projects is available on the websites of the Ministry of Mines and Petroleum and the National Procurement Agency.

Source: WAM

Check Also

OPEC to maintain balanced policy, say Saudis

Ibrahim al-Muhanna, an adviser to the Saudi energy minister, said on Friday he expected the …

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: