Make Kitco Your Homepage

Afghanistan is ready to open its rich natural resources to foreign investors - report

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Wednesday, in its presentation materials at the Prospectors & Developers Association of Canada (PDAC) 2021 virtual conference, the Afghanistan Ministry of Mines and Petroleum (AMMP) pointed out that the country is endowed with rich natural resources that remain largely untapped.

According to AMMP, Afghanistan has world-class deposits of iron, copper, gold, rare-earth minerals and other natural resources. As the country is moving towards self-reliance, the government sees vast mineral resources as a catalyst of long-term socio-economic development. The extractive sector is full of investment opportunities for private investments.

Considering the geographical location of the country, Afghanistan can become a favorable destination of investment in the extractive sector. In pursuit of establishing a comprehensive investment framework, Afghanistan has developed investment-friendly laws and more than ever, is ready to host large-scale investments in the extractive sector.

AMMP said it has designed several consequential documents, including the Mining Sector Roadmap, a new Minerals Law, and a new Hydrocarbons Law as part of its commitments to open the mining and hydrocarbon sectors for private investment.

To sustainably utilize the country’s natural resources, AMMP intends to tender new large-scale mining and hydrocarbon projects. The ministry is rigorously focused on attracting domestic and foreign investors to exploit Afghanistan’s plethora of mineral and hydrocarbon resources. AMMP will focus on the bankable investment opportunities in the mining sector which are ready for tendering.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.