Afghanistan's Ministry of Mines and Petroleum confirmed substantial investment from Türkiye, Iran, and the United Kingdom in the Ghorian iron mine located in Herat. Spokesperson Homayoun Afghan disclosed that these countries secured rights to the mine for 30 years, committing over $5.5bn to various aspects such as exploration, extraction, exploitation, and community services.
The Ghorian iron mine spans approximately 1,000 square kilometres in Herat. Due to infrastructure limitations such as electricity and processing facilities, the extraction and processing of iron are not currently conducted within the country.
Economic analysts have stressed the importance of domestic mineral extraction and processing to enhance Afghanistan's internal revenues. Abdul Nasir Reshtia highlighted potential international interest in investing in Afghanistan's mining sector, contingent upon global recognition and eased banking restrictions.
Taj Mohammad Talash emphasized the necessity for the Islamic Emirate to ensure robust financial, energy, and security infrastructures to reassure investors.
Meanwhile, eight mining extraction contracts were signed in 2M24, totalling $40mn in investment. These contracts include two major and six minor mines, all executed with domestic companies.
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