KABUL: The Chinese mine extraction companies of Jiangxi Copper Co. Ltd and Metallurgical Corp of China (MCC) are intending to resume extraction of Mes-e-Ainak mine.
Mes-e-Ainak is a copper mine located in the southeastern province of Logar. Jiangxi Copper Co. Ltd and MCC contracted for a 30-year lease for the mine in 2008- that estimated to reserve 11.08 million tons of copper.
“Due to the unstable situation in Afghanistan, the Mes Aynak copper mine invested by the company has not yet undergone substantial construction,” Zheng Gaoqing, the chairman of Jiangxi Copper said at an online briefing.
The company said that it has been monitoring the situation and will implement its project considering the situation. This comes as nearly one month ago, the Islamic Movement of Taliban overrun the former government of President Ashraf Ghani, who escaped the country.
“The rise in copper prices has brought direct benefits to the company’s own ores,” said Zheng, adding that he expected copper prices would remain at high levels due to solar power and new energy consumption.