Afghanistan invites Indian firms to tap minerals
By IANSTuesday, July 20, 2010
KABUL/NEW DELHI - Afghanistan has invited Indian companies to tap mineral deposits estimated to be worth up to $3 trillion, a move that is set to raise India’s stakes in reconstruction of the violence-torn country.
Afghan Minister for Minerals Wahidullah Shahrani met India’s External Affairs Minister S.M. Krishna in Kabul Monday night and welcomed Indian companies to tap mineral resources, official sources said.
“We welcome Indian companies with good reputation to tap the resources in Afghanistan,” the Afghan minister told Krishna.
Shahrani also said the Afghan government was moving ahead with open tendering and developing the infrastructure required for the mining industry.
Krishna is in Kabul on a two-day visit to participate in an international conference on the future of Afghanistan.
Shahrani recently said Afghanistan’s untapped mineral deposits could be worth up to $3 trillion. Last month, the US made it public that it has discovered mineral wealth worth $1 trillion that includes vast reserves of iron ore, copper, cobalt and lithium.
Officials and experts say the discovery of huge mineral wealth could transform the Afghan economy and spur reconstruction of the war-ravaged economy.
Some Indian companies are upbeat about investing in mining in Afghanistan despite the precarious security situation. Vedanta Resources, Essar and Hindustan Copper are said to be eying mining assets in Afghanistan.
