Contracts of Two Mines Inked for Combined Investment of $33,490,444

Contracts have been signed for the development of two significant mines, with a combined investment value of 33,490,444 US dollars, says Humayon Afghan the spokesman of the ministry of mines and petroleum.

Sheikh-ul-Hadith Shahabuddin Delawar, the Acting Minister of Mines and Petroleum, presented the Jagdlak ruby mines in Kabul, covering an area of 6.895 square kilometers, with a total investment of 27.5 million dollars. Additionally, the barite mine in Herat province, spanning 5.75 square kilometers, requires a total investment of 5,990,444 US dollars.

The contract signing ceremony took place in presence of Sheikh Zia-ul-Rahman Al-Aryoubi, assistant of Planning and Policy, as well as the heads of other mining companies, including Ariana Highland mining company and Mining and Processing Company, Wahadat Niazi.

The Acting Minister of Mines and Petroleum addressed the audience, highlighting the significance of these mines. He emphasized that the contract for both mines will span 15 years, subject to conditions ensuring compliance with mining laws, procedures, and obligations.

The Acting Minister further added that the contracted companies have committed to conducting 100% processing operations within the country. Any violation of this agreement may result in the termination of the contract with the respective companies.

Discussions also touched upon social services and other related matters. It was noted that the implementation of these projects will create direct and indirect employment opportunities for hundreds of Afghans, including returning immigrants. The Islamic Emirate will receive a share of 44 percent from the Jagdalak ruby mine and 50 percent from the barite mine within the designated areas.