Saturday, June 15, 2024

Turkish Investors To Invest In Afghanistan’s Mining Sector

Immigration News

Fidel Rahmati
Fidel Rahmati
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

Turkish Investors asked for funding for mines and processing facilities in Afghanistan at a meeting with Shahbuddin Delawar, the Ministry of Mines and Petroleum said in a statement.

According to the ministry, Turkish investors reportedly expressed interest in investing in Afghanistan’s mineral resources and indicated they wanted to invest in Afghan mines and mineral processing facilities.

At the same time, Delawar welcomed Turkish investors’ interest and promised to work with them in compliance with the country’s mining laws and regulations.

Minerals like lithium, rare earth, gold, copper, iron, and gemstones are abundant in Afghanistan. According to some estimations, the country contains mineral deposits worth up to $3 trillion.

However, decades of war and conflict in the country and a lack of infrastructure have made it difficult to invest and adequately extract these mineral resources. As a result, the local warlord and illegal armed organizations take advantage of the situation and smuggle several mines and deposits into the country.

Since the Taliban took control of the country and the lack of a legitimate or recognized government, it made it difficult for foreign investors to invest in the mineral sectors of the country.

Meanwhile, foreign investors hesitate to invest in the country due to legal issues, security threats, and political meddling. As a result, most foreign companies have been put on hold or cancelled their contracts since August 2021.

Recently, several countries, including China, Turkish and several others shown interest in investing in the mining sector or processing to expand their influence through investing or humanitarian aid in the country.

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