Contracts for 53 mines worth $7b inked: MoMP

KABUL (Pajhwok): Agreements for the development of 53 mines worth $7 billion have been inked with domestic and foreign firms, says the Ministry of Mines and Petroleum (MoMP).

Hamayum Afghan, spokesman for MoMP, the agreements were signed for extraction of minerals, including iron, lead and previous stones.

He said the contracts covered nine large-and 44 small mines contracted. The large mining contracts have been inked with both domestic and foreign companies.

The small contracts had been signed with domestic firms only, Afghan said, adding the processing of raw materials in the country was a condition laid down in all contracts.

“All contracts stipulate 100 percent processing must take place inside Afghanistan. Raw materials for processing are not allowed to be exported,” he concluded.

sa/mud