The Kabul times, Afghanistan Trustable News Agency.

Value of signed mining contracts reaches $7 billion, says MoMP

The Ministry of Mines and Petroleum of the country has stated that the value of contracts signed in the mining sector in the past two years is close to $7 billion. These contracts have been signed with both national and international companies. “Iranian, Chinese, Turkish, and British companies are among the investors, and the total value of investment in the seven contracts is approximately $6,557 million,” said Hamayoun Afghan, the Ministry of Mines and Petroleum spokesperson. The Ministry of Mines and Petroleum spokesperson added that during this period, contracts for the extraction of 200 small mines have also been awarded to domestic companies. The spokesperson for the Ministry further added that several mines, especially the lead mine and Zinc of Ghor province and the oil and iron basins in Panjshir, are currently ready for extraction, and investors can invest in them. “A proper policy should be developed for mining extraction to ensure the national interests of Afghanistan’s economy, and it should be extracted collaboratively,” said Shaker Yaqoubi, an economist. “Every economic activity can contribute to the country’s economic growth, and mining extraction, on its scale, can increase employment opportunities in the country,” said Abdul Zahoor Madubir, another economist. Meanwhile, the Chamber of Commerce and Investment has stated that the Islamic Emirate should award mining contracts to national and international companies while safeguarding national interests. According to officials of the chamber, the Islamic Emirate should facilitate the necessary conditions for more investments in the country’s investment sector to attract more significant investment, and the global community should also lift the imposed restrictions. “The Ministry of Mines and Petroleum has the responsibility to prepare favorable and conducive conditions for both Afghan and foreign investors, considering the national interests of the country’s economy, to increase the level of investment,” shared Mohammad Yunus Mommand, the Deputy Head of the Chamber of Commerce and Investment. Previously, the Ministry of Mines and Petroleum had stated that complete transparency exists in mining extraction, and no mine in the country will be extracted illegally. Mashal Noori

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The Kabul times, Afghanistan Trustable News Agency.