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Private sectors to invest $20m on chromite mining

AT News Report

KABUL: An amount of $20 million US dollars will be invested by private sectors on extraction and processing of chromites mines in Afghanistan, officials said Saturday.

The amended contracts have been signed between the ministry of mines and petroleum and five private sectors are allowed for investment across the country.

The projects will be under progression in capital Kabul, southern Logar, northern Parwan and central Wardak province.

The ministry has cut downed the payment from 30 to 7.5 to encourage the investors for putting money on Afghanistan’s mines. 

Also, the companies are committed to process the extracted chromites within Afghanistan.

However, Afghanistan has been predicted to totally have over $1 trillion underground resources, but the corruption, insecurity, power, and infrastructure have so far been the main challenges against the development of these resources.

Meanwhile, the acting minister of mines, Nargis Nehan said that local power full individuals and militants have been illegally extracting the mines mostly in southern part of the country.

She also added that a technical team would be sent to Lapis Lazuli mine in Keran-o- Munjan district of northern Badakhshan province to implement the essential needs in regards.

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