Afghanistan has signed a five-year gold mining contract with Afghan and Azerbaijani companies in a deal worth more than $20m, the Ministry of Mines and Petroleum has said.
The contract covers a gold mine in Qala Zal district in the northern province of Kunduz, spanning an area of 5.97 square kilometres.
The agreement was signed on Sunday by Hedayatullah Badri, Minister of Mines and Petroleum, with Subhan Momand Company and Azerbaijan’s Reef Group LLC.
According to the ministry, the total investment in the project will amount to $20,240,000. The companies will also pay a 30% royalty to Afghanistan’s de facto authorities.
The ministry said the company had also committed to investing in local services.
“The aforementioned company is committed to paying a 30% royalty and investing (200,000) USD in various social service sectors.”
It added that the project was expected to create jobs in the area.
“Furthermore, the company is supposed to provide employment opportunities for (100) people directly and indirectly.”
The signing ceremony was held in the presence of the ambassadors of Azerbaijan and Kyrgyzstan.
The ministry said the two ambassadors welcomed the deal and expressed interest in further investment in Afghanistan.
“The Ambassadors of the two countries expressed their appreciation for the cooperation of the Ministry of Mines and Petroleum with the mentioned company and stated that their companies are interested in making further investments in Afghanistan’s mining sector.”
Badri said the agreement would help build economic relations between Afghanistan, Azerbaijan and Kyrgyzstan.
“While welcoming the guests, the Minister of Mines and Petroleum said that the signing of this contract is considered a positive step toward strengthening economic relations among the three countries.”
He also said the ministry would support further domestic and foreign investment.
“He further added that the Ministry of Mines and Petroleum welcomes all national and international investors interested in investing in Afghanistan’s mining sector, and we will continue to facilitate greater opportunities for them.”
Afghanistan has been seeking greater investment in its mining sector, which officials say is one of the country’s key sources of economic growth.
U.S. federal prosecutors have charged six people over an alleged scheme that arranged hundreds of fraudulent ma...
Türkiye, Qatar, Pakistan and Indonesia have signed a new defence industry agreement in Doha, bringing existing military projects under a share...
Georgia's Constitutional Court has begun hearing a landmark case that could see five opposition parties banned following a legal challenge by t...
Ukrainian President Volodymyr Zelenskyy has arrived in Norway for talks about the Russia-Ukraine war. He is expected to meet with U.S. President Donald Trump's Special Envoy Steve Witkoff, who arrived in Oslo earlier. Witkoff will also meet European officials.
Iranian Foreign Minister Abbas Araghchi said regional issues should be resolved through diplomacy and blamed the United States for insecurity and tensions in the Strait of Hormuz, speaking at a joint news conference with Russian Foreign Minister Sergey Lavrov on Monday.
Yemen's Houthis have denied targeting the holy city of Medina on Wednesday adding that they have not conducted any military operations towards Saudi Arabia either, denying earlier comments from the Saudi-led coalition in Yemen.
U.S. envoy Steve Witkoff is meeting Russian President Vladimir Putin in St. Petersburg, with discussions focused on the war in Ukraine and the prospects for progress in ongoing diplomatic efforts.
French authorities imposed local curfews in parts of Paris, Lille and Nice on Monday after a weekend of riots and looting linked to nationwide anti-government protests, as the government faced mounting criticism over security failures.
Georgia's Constitutional Court has begun hearing a landmark case that could see five opposition parties banned following a legal challenge by the ruling Georgian Dream party. Hearings are ongoing and expected to continue until at least Friday.
Türkiye has welcomed Libya's parliamentary approval of a disputed maritime agreement, despite strong opposition from the European Union, which says the deal violates international maritime law.
Yemen's Houthis have denied targeting the holy city of Medina on Wednesday adding that they have not conducted any military operations towards Saudi Arabia either, denying earlier comments from the Saudi-led coalition in Yemen.
The United Nations warned on Tuesday that 19.2 million people in Afghanistan could face acute food insecurity this winter, as families struggle to afford food despite an increase in wheat production.
Georgia’s Constitutional Court in Batumi will on Wednesday hear a lawsuit seeking to ban five Georgian opposition parties, four of which collectively gained 784,820 votes (37.79 per cent) in the country’s last national elections in 2024.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment