Afghan gold, copper mines deals signed in U.S.

Turkish Afghan Mining Company will invest $22 million in Badakhshan gold mine in the first three years of exploration, while Afghan Gold and Minerals Company will invest $56 million on Balkhab copper during the same period, a spokesman for Afghan Ministry of Mines and Petroleum told reporters in Kabul on Saturday.
They are partners of Centar, the British mining and exploration investment company, which said that the projects could create up to 13,000 jobs and generate combined impact of $1 billion.
Centar hopes to begin exploration in the sites next year. Within the first year of operation, both projects could be among the largest private-sector employers, it said.
Acting ministers of finance and mines and petroleum represented Afghanistan in the signing ceremony which was held at the Afghanistan Embassy in Washington.
According to Centar, the Balkhab Copper Project covers 500-squar-kilometer area while the gold project in Badakhshan covers twice the size.
“The responsible development of Afghanistan’s mineral deposits would be truly transformative for the country, providing sustainable, indigenous revenue sources to help increase social stability and peace,” said Ian Hannam, Founder and Chairman of CENTAR. “I am grateful to President Donald J. Trump, the current administration, and the U.S. Department of Defense who identified these assets and financed the tender process for the Government of Afghanistan to help make today possible.”
“This investment will be transformative for Afghanistan,” said Sadat Mansoor Naderi, Chairman and President of Afghanistan Gold and Minerals and Vice President of Turkish Afghan Mining Company. “The mining sector holds more potential to create a prosperous and peaceful Afghanistan than any other area. We are excited to play our part in building enterprises that will transform the lives of thousands of Afghans living in rural villages and generate new careers for hundreds of students across our country. As we explore and discover mineral resources, we will development local human capital and support a new local services industry. Once we begin mining, the country will benefit from major investments in infrastructure as well as fiscal revenue from our projects.