Afghanistan Moves Quickly to Tap Newfound Mineral Reserves

[Judi Lynn]

Source: New York Times

Afghanistan Moves Quickly to Tap Newfound Mineral Reserves
By ALISSA J. RUBIN and MUJIB MASHAL
Published: June 17, 2010

KABUL, Afghanistan — The Ministry of Mines announced Thursday that it would take the first steps toward opening the country’s reserves to international investors at a meeting next week in London even as Afghans expressed a mixture of hope and doubt about the government’s commitment to develop the country’s newly documented mineral wealth.

The focus of the meeting will be the Hajigak area of Bamian Province, which has major iron ore deposits, the Mines Minister, Wahidullah Shahrani, said at a news conference here.

It was Mr. Shahrani’s first public appearance since news that the country had at least $1 trillion in untapped mineral resources became public after an article appeared Monday in The New York Times that detailed findings of the Pentagon and United States Geological Survey. Afghan officials described the $1 trillion estimate conservative and said their estimates suggested the reserves could be worth as much as $3 trillion.

“This good news has the potential of adding a lot of value to the economy of Afghanistan and it will serve the development of Afghanistan,” Mr. Shahrani said.

The previously unknown deposits include huge veins of iron, copper, cobalt, gold and critical industrial metals like lithium. With so many minerals that are essential to modern industry, Afghanistan could be transformed into one of the most important mining centers in the world, according to American officials.



Read more: http://www.nytimes.com/2010/06/18/world/asia/18afghan.html?ref=world

[Oregone]

1. "steps toward opening the country’s reserves to international investors"

:rofl:

The humans. So stupid. It hurts

[PacerLJ35]

5. Who else is gonna mine it?

The Afghans have a hard enough time just paving a road, much less actually acquiring and developing the equipment, talent and money to mine anything in their very rugged countryside. Barring extreme infighting and corruption (there will be corruption, it's Afghanistan after all) this is a good option for them. For all those who wag their finger and say "see, it was only about the mineral wealth", I have one question...what other option would you suggest for these people? Continue centuries of exporting nothing but warfare and opium? Is it ok if we deny any mining and keep them living in mud homes on subsistence farming villages so long as you get to feel noble in your comfortable western economy-inspired lifestyle?

[Oregone]

9. "Continue centuries of exporting nothing but warfare and opium"

Ah, thats all they ever produced, eh?


:rofl:

[Nuclear Unicorn]

2. "Newfound?"

I thought the report came out in 2007?

[Art_from_Ark]

4. I think the first one came out in 1842

And the British Empire took an interest in it.
They were followed more than a century later by the Soviet Empire.

[KurtNYC]

10. They are just pimping it as "new"

I'm expecting in the next press release it will be "untapped" or "virgin."

[classysassy]

3. I am sure the Bush,Chaney gang

will be arriving in country soon.

[ShamelessHussy]

6. this is the last card they have to play to keep the blood and treasure flowing

if the figures are true, it will work.

reminds me of the old chinese proverb, be careful what you wish for... this is more of a curse for the average afghan.

[PacerLJ35]

7. More of a curse?

Life expectancy is 44 years. Infant mortality is around 150/100,000. Kids at the age of 12 learn how to either shoot guns to serve in a local militia fighting the other militias, or they become married to a man twice their age or more. Roads are often non-existent.

And you say discovering mineral wealth that could give them an economy besides warfare and opium is going to be more of a curse than they already deal with? What alternatives do you suggest for them?

[ShamelessHussy]

8. yes. if you check a map for where most of the fighting has occurred in the past 50 years

you will find them either 'rich' in energy, and other natural resources or corridors of the same.

shoot, just look at iraq and afghanistan, for 2 examples.

and so it goes...

[Winterblues]

11. I am certain Halliburton will be a major player in mineral extraction equipment

and techniques. Why else would we even be in Afghanistan?