KABUL (Pajhwok): A 30-year contract for the extraction of an iron ore mine in Yakawlang district of central Bamyan province has been signed, involving an investment of over 438 million afghanis and a 20 percent royalty rate, the Ministry of Mines and Petroleum said.
In a statement, the Ministry of Mines and Petroleum (MoMP) said Minister Mullah Hedayatullah Badri signed the contract for the mine, which covers a total area of 85 square kilometres, with domestic companies Nazari Rahimi and Khan Waziri.
The statement said the project involves a total investment of more than 438.961 million afghanis and includes a 20 percent royalty payment.
Speaking at the signing ceremony, Badri said the contract has been awarded for a period of 30 years and is conditional on the companies operating in accordance with mining laws, procedures, and their contractual obligations.
He added that under the agreement, 100 percent of the minerals extracted from the project will be processed within Afghanistan.
According to him, the implementation of the project will create dozens of direct and indirect employment opportunities for Afghan citizens.
kk/sa
