India Wins Mining Concession in Afghanistan

By Angela H. -

Afghanistan awarded the concession for four of five blocks in the Hajigak deposit to a group of Indian firms. Firms must provide a $14 billion investment. It will takes at least five years to begin operations in the region. India’s increased presence in the country may further strain Afghanistan’s relationship with Pakistan. According to U.S. estimates, Afghanistan’s mineral wealth could be worth more than $1 trillion. The profitable mining industry help stabilize Afghanistan, which could ultimately lead to the decrease in need for international aid.

The agreement is still pending the approval of President Hamid Karzai and his cabinet.

Source: http://online.wsj.com/article/SB10001424052970203802204577067303633783544.html

Reliability: 9

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