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Afghanistan,India : AFGHANISTAN and INDIAN Co. to ink largest mining deal.

Wahidullah Shahrani, Minister of Mines, Afghanistan has announced that Afghanistan is set to ink its major mining deal involving the single-largest foreign investment in mining ever made by an Indian business.

He added that decision on bids already secured would be taken within the next few days . Shahrani said: The bid evaluation has been concluded and the concessions would be awarded in January 2013.

Mr. Shahrani said: As you are aware, an Indian steel consortium has won three of the four resource blocks at Hajigak, considered the largest iron ore deposit in Asia We are expecting to sign, in the shortest term, what will be the largest mining deal in history of Afghanistan.

The minister stated that the total investment during the next decade at these mines would be around $15 billion, adding that an updated mining law and regulations would be prepared in a few weeks.

According to him, the new deposits that would be launched, the iron ore deposits have an annual capacity of some 0.5 million tonnes, while the copper deposits have a capacity of between 7 and 10 million tonnes.

2012 Al Bawaba (Albawaba.com)

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Publication:Mena Report
Geographic Code:9AFGH
Date:Dec 8, 2012
Words:198
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