July 26, 2014

Afghan Gold & Minerals Company wins mining permits

By Sajad - Tue Dec 11, 9:22 pm

The government of Afghanistan has picked preferred bidders for three of its four current mineral tenders, including a company backed by former BHP Billiton ceo Chip Goodyear and a JP Morgan Cazenove executive.

Afghan Gold and Minerals has been named preferred bidder for the Balkhab copper exploration licence northwest of the capital Kabul, one of three gold and copper exploration licences opened for tender a year ago by the Afghan government.

Afghan Gold and Minerals will have copper explorations rights over the Balkhab, northwest of the capital Kabul. The company already has a gold property, which is close to start production, according to FT.

Afghan Minerals Group was granted Thursday a license to explore the Shaida copper deposit, in the province of Herat, in western Afghanistan.

Afghan minister of mines said that Afghan Gold and Minerals Company, Afghan Minerals Group, and Turkish-Afghan Mining Company had been picked from a shortlist of 25 bidders to explore and begin to develop the Balkhab, Shaida and Badakhshan projects respectively.

“We look forward to finalising mining agreements with them,” minister Wahidullah Shahrani said.

Meanwhile, Turkish-Afghan Mining obtained the license for the Badakhshan gold and copper deposit, in the Badakhshan province, in north-eastern Afghanistan.

This is the second round of mineral licensing conducted by the Afghan government, which in 2008 gave Metallurgical Corp of China rights to the Aynak copper deposit and, in November last year, granted an Indian steel company the right to exploit the Hajigak iron ore deposit.

The Hajigak iron ore deposit is considered one of the largest iron deposits in the world at 1.8 billion tonnes.

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