An unnamed Afghan business person is supposedly prepared to invest up to $12 million in iron ore mining in Panjshir province, the provincial governor's spokesman Saifuddin Laton said Sunday.According to Laton, the business person has actually shown interest in investing between $3 and $12 million to mine a location covering 22 square kilometers in Paryan district in Panjshir.Laton said the contract for this project has actually been authorized by the Economic Directorate of the Prime Minister's Office of the Islamic Emirate of Afghanistan (IEA).
In addition to extraction, the business owner will likewise perform the processing and product packaging of the iron ore within the province to create higher added value.Laton stated that in the very first stage, the company will introduce an exploratory program of the reserves over six months, during which around 500 jobs will be created.After finishing this stage, formal extraction work will begin, he said.Afghanistan has considerable iron ore reserves, approximated at 2.2 billion tonnes, making it a top 10 country for extractable iron.The largest deposit, Hajigak, is located in Bamiyan province, and includes an estimated 1.7 billion tonnes of state-of-the-art ore.
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