Search DubaiPRNetwork.com

Home >> Banking & Investments

Afghanistan Opens New Mining Areas to International Investment

Afghanistan Opens New Mining Areas to International Investment

Monday, April 15, 2019/ Editor -  

Share

Home >> Banking & Investments

Ministry of Mines and Petroleum Announces 14 New Projects for Tender

Dubai, UAE: 15 April 2019 –   In a keynote address at the Afghanistan Mining Investment Forum convened by INVEST, a global initiative of the U.S. Agency for International Development (USAID) to mobilize private investment in partner countries, H.E. Minister of Mines and Petroleum Nargis Nehan announced 43 new large and small-scale mining projects available for private sector investment and development. The projects span a number of commodities and are situated in 16 of the country’s 34 provinces. After anticipated tendering, an estimated $100 million will likely be spent on initial assessments, exploration and evaluation work for these projects over the next 12 months with investments increasing significantly in following years as projects advance. Tenders will cover a wide range of commodities including oil and gas, gemstones, copper, gold, marble, and talc.

Minister Nehan highlighted 14 new opportunities open to international investors in her remarks:

“For the first time ever, Afghanistan is opening opportunities for international investors to bid on ruby, emerald and lapis lazuli projects. Many of the commodities, such as marble, travertine and cement, selected for tenders have strong domestic and regional market demand. Others, such as gold, copper talc, iron ore, marble and oil and gas have established international markets.

Our government has worked hard to put in place a new Minerals Law and transparent regulations and procedures for investors to take advantage of these new opportunities, and I am proud to say that Afghanistan’s mining sector is ‘open for business.’”

Due to a previous investor-unfriendly Minerals Law, there has been negligible mineral exploration in Afghanistan for the past decade at a time when mining companies have spent, on average, more than USD $10 billion each year exploring for minerals worldwide.

 


Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

Kanz Jewels recognizes top performers with outstanding performance awards, this ...

Icons club launched a coffee table book of inspiring stories

Qudoos leads the way as MGM beat DHL to win first NAS Cricket title

Ramadan & Eid celebrations across Abu Dhabi & Al Ain Malls

Celebrating This Eid, Dubai Shopping Malls Group Announces Aed 250,000 Eidiyat C ...

Jaguar I-pace Wins Three Titles at the International Engine + Powertrain of the ...

Dubai Islamic Affairs and Charitable Activities Department honours sponsors and ...

Lenovo Achieves Record Revenue for Fy18/19 Driven by Success of Intelligent Tran ...

NYU Abu Dhabi researchers develop hybrid molecules that could serve as a new cat ...

WWE Champion Kofi Kingston vs. Dolph Ziegler match announced

Liz Taylor Named Chief Creative Officer of Leo Burnett Worldwide

Shurooq and BESIX Group announce launch of construction of QATRA

Schneider Electric's Cutting-Edge Technology for Gas Grid Management Goes Live a ...

Dawex Raises €5 Million to Accelerate the Development of the Data Economy

A Step Towards Sustainable Living With LG

Ramadan Big Bazaar hosted by Concept Brands Group Sees a Tremendous Response on ...

Eid Al-Fitr Celebrations at Palace Downtown

DP World, Uae Region Contributes Significantly to the Well of Hope Project

Meet the Winners of Smartpreneur Competition 4.0 Supported by du

Dry Hair: Causes & How to Combat It