Saturday, February 4, 2023

Afghan copper mine income to increase by $163 Million

Immigration News

Ahmad Shah Ghanizada
Ahmad Shah Ghanizada
Ahmadshah Ghanizada is the deputy editor in chief for The Khaama Press Agency who manages and overlooks the English edition.

According to officials in the Ministry of Mines of Afghanistan, the budgeted income as a result of the Ainak copper mine is expected to reach $163 million by the end of the Afghan year once the Chinese Comapny MCC pays an additional payment of $107 million to the Afghan government.

The officials further added, the Chine Comapny MCC is required to pay $560 million to Afghan government until 2014 and before copper extraction based on the agreement which was signed between the Afghan government and MCC.

The officials also said, MCC has paid $133 million out of the $808 advance payment to the Afghan government.

Afghan mines minister Wahidullah Shahrani said, MCC paid $80 milllion to Afghan government when they signed agreement in 2008 and the company paid $53 million at the beginning of Afghan calendar year 1390, and the company is required to pay $107 million before the end of 1390.

According to officials in the ministry of mines of Afghanistan, the preliminary work on Ainak copper mine has been started and is in progress.

MCC is required to pay $808 million as advance payment to Afghan government before launching copper extraction.

Ainak copper mine located in eastern Logar province is considered to be one of the biggest natural resources of Afghanistan which has gained a major foreign investment.

According to Afghan mines ministry officials, the samples of Ainak copper mine has been sent to China for decomposition purposes to China which was taken earlier by MCC and Russian officials.

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