Afghanistan to tender biggest iron deposit

19:54, June 30, 2010      

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Afghan minister for Mines Waheedullah Shahrani on Wednesday said that the government plans to tender its biggest iron deposit next September in efforts to attract foreign investments.

"The Hajigak deposit, a natural resource with over 2 billion tons of 62 percent iron, would be put for tender in September and several international companies have shown interest to invest in it," Shahrani told a news conference here after returning home from Britain.

Shahrani, who visited London recently to encourage foreign companies to invest in mining field in Afghanistan, said that some 200 international firms have shown readiness to invest in mining and explore the vast untapped underground treasure in Afghanistan.

According to the minister, the war-torn Afghanistan has a deposit of minerals worth over 3 trillion U.S. dollars.

However, Afghanistan, mired with over three decades of war, does not have any mining industry or infrastructure to explore natural resources properly, so it will take decades for the country to exploit its untapped underground treasure appropriately.



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