Kabul: Afghanistan's untapped mineral wealth is worth at least $3 trillion (Dh11 trillion) — triple a US estimate, according to the government's top mining official, who is going to Britain next week to attract investors to mine one of the world's largest iron ore deposits in the war-torn nation.
Geologists have known for decades that Afghanistan has vast deposits of iron, copper, cobalt, gold and other prized minerals, but a US Department of Defence briefing this week put a startling, nearly $1-trillion price tag on the reserves.
Minister of Mines Wahidullah Shahrani said yesterday that he's seen geological assessments and industry estimates that the minerals are worth at least $3 trillion.
"Afghanistan has huge untapped natural energy and mineral resources which have enormous potential for our economic development," Shahrani said. "Ensuring that this is done in the most transparent and efficient way while delivering the greatest value to the country is a priority of the government."
Legal safeguards
The ministry has been working with international partners to assess Afghanistan's mineral reserves and improve the expertise of Afghan geologists, he said. In addition, mineral and hydrocarbon laws have been updated to meet international standards and efforts are being made to prevent possible corruption in the awarding of contracts, he said.
