Afghanistan's Geological Reserves Worth Trillion $$$$$$$:

[amborin]

Afghan 'Geological Reserves Worth a Trillion Dollars'


KABUL - Afghanistan, one of the world's poorest countries, is sitting on mineral and petroleum reserves worth an estimated one trillion dollars, President Hamid Karzai said Sunday.

....... While Afghanistan is not renowned as a resource-rich country, it has a wide range of deposits, including copper, iron ore, gold and chromite, as well as natural gas, oil and precious and semi-precious stones. (Afghan Government photo)The war-ravaged nation could become one of the richest in the world if helped to tap its geological deposits, Karzai told reporters.

snip

"The initial figures we have obtained show that our mineral deposits are worth a thousand billion dollars -- not a thousand million dollars but a thousand billion," he said.

He based his assertion, he said, on a survey being carried out by the United States Geological Survey (USGS), due to be completed in "a couple of months". The USGS, the US government's scientific agency, has been working on the 17-million dollar survey for a number of years, Karzai said.

While Afghanistan is not renowned as a resource-rich country, it has a wide range of deposits, including copper, iron ore, gold and chromite, as well as natural gas, oil and precious and semi-precious stones.

snip

More than 100,000 foreign troops under US and NATO command are battling the insurgents, with another 40,000 due for deployment this year.

China and India have bid for contracts to develop mines, with the Chinese winning a copper contract. An iron ore contract is due to be awarded later this year.

In 2007, China's state-owned metals giant Metallurgical Group Corporation (MCC) signed a three-billion-dollar contract to develop the Aynak copper mine -- one of the world's biggest -- over the next 30 years.
First discovered in 1974, the site, 30 kilometres (20 miles) south of Kabul in Logar, is estimated to contain 11.3 million tonnes of copper.
The Hajigak iron ore mine in Bamiyan province, north of Kabul, is currently under tender, with one Chinese and half a dozen Indian firms bidding.
The contract is for exploitation of almost two billion tonnes of high-grade ore, involving processing, smelting, steel production and electricity production.

http://www.commondreams.org/headline/2010/02/01-6

[woodsprite]

1. Which (I'm just guessing here) had a 'little' bit to do with our interest. n/t

[winyanstaz]

2. Well no wonder we are over there blowing the hell out of the place...

[JanusAscending]

3. Maybe while my grand daughter is over there

with her fiance (Army Infantry) they can at least dig for some precious metals huh?? Not that the powers that be would let them bring them home, ya know? Not enough treasure in all the world to make it worth losing one of our own precious gems!!

[winyanstaz]

4. I agree Janus...

My nephew is over there...and my middle son lives in Israel.
I just want the wars to stop over there and for the senseless killings to stop..and for our loved ones to come home safe.
End the wars...bring our troops home now! :)

[PacerLJ35]

5. Instead of asking foreign countries to come mine it all, Karzai should focus on forming his own

He should form Afghanistan's own enterprise to mine Afghanistan...employ Afghans....use the funds to improve Afghan infrastructure. Maybe if they have jobs mining and developing oil/gas fields, they will stop fighting each other...maybe.

But war is a family tradition in Afghanistan.

[flyarm]

11. Karzai , Mr UNOCAL oil man ..is a scum bag..

Karzai helped provide financial and military support for the Mujahideen during the 1980s..He was the CIA's guy ..and RAND corp guy..what makes anyone think he gives a rats ass about the Afgan people? he is owned.

[PacerLJ35]

12. Well, somebody needs to do it...

It was a suggestion...an idea to ignite some kind of economy in Afghanistan that's not centered around war and poppies.

[4_TN_TITANS]

13. Yup...

Karzai is selling his country to the highest bidder, and I'm sure there are no kick-backs in his general direction. :sarcasm:

He should learn from the U.S. and how we now own the Chinese... wait, never mind.

[lib2DaBone]

6. Iron ore, mining, drugs... what's not to like? More drones..more democracy

[Robb]

7. At this point I would be skeptical if Karzai said they had a gravel surplus, frankly. nt

[Luminous Animal]

8. Would major global mining and petroleum corps bid on gravel?

http://online.wsj.com/article/SB10001424052748704905604575027673196231564.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsSecond

"LONDON -- Afghanistan plans to delay awarding concessions for a major iron ore deposit and sizeable oil and gas reserves as part of a broader effort to stamp out corruption, the country's finance minister said.

The move by Afghanistan could upend the plans of Total SA, Swiss-based Addax Petroleum Corp. and Canada-based Nations Petroleum Co., all of which were among the seven finalists selected last year for oil and gas blocks in the country's northwest.

Of particular concern, said Finance Minister Omar Zakhilwal in an interview Tuesday, is a major iron ore deposit in central Afghanistan that last year attracted bids from smaller Chinese and Indian companies. "We've put a hold onto to the bidding process; it will have to be re-bid," he said.

>>>

Afghanistan is rich in minerals and gemstones, with huge copper and iron ore deposits and reserves of emerald and rubies. Exploiting those reserves could help provide the country with much of the money it needs to wean itself from the massive infusions of foreign aid on which it new depends."

[Mari333]

9. it was always about the MONEY honey. knr

[Echo In Light]

10. Well of course there's always ulterior agendas behind phony war$