India wins rights to biggest Afghan iron mine : official
AFP Tue, Nov 29, 2011
A consortium of Indian companies has won the rights to develop Afghanistan's largest iron ore deposits, a mining ministry official said Tuesday, underscoring growing ties between the two countries.
Seven Indian companies, led by the state-owned Steel Authority of India (SAI), won a $10.3 billion deal to exploit three of four blocks at the Hajigak mine in Bamiyan, central Afghanistan, said ministry official Abdul Jalil Jumrani.
A fourth block was awarded to Canada's Kilo Goldmines, he said, with contracts due to be signed in February or March and exploitation of the mine's estimated two billion tonnes of iron ore deposits expected to begin by 2015.
Last month, Afghanistan signed a strategic partnership deal with India aiming to boost trade, security and cultural links, triggering consternation in neighbouring Pakistan, India's arch-rival for influence in the region.
Afghanistan is believed to have mineral reserves worth as much as $3 trillion which could theoretically generate billions of dollars in tax revenue for the troubled country.
But exploitation of these resources faces massive hurdles due to ongoing instability after 30 years of war in the country, woeful infrastructure, and endemic corruption.
As part of the Hajigak deal India has pledged to invest in surrounding infrastructure projects, including $1 billion to build a railway and monies for a 800-megawatt power plant and 200-kilometre (140-mile) road, Jumrani said. Kilo Goldmines will invest $3.2 billion, he added.
Kind of reminds me of how the Chinese, Japs, and Gooks got all the oil contracts in Iraq. The stupid Americans put in the lives and money, others reap the rewards. Those jews are sure riding this bitch hard, lol.
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Quotations by global leaders on phuckistan
British PM David Cameron: There will be lots of questions about what support system bin Laden had in Pakistan, and we need those questions answered
White House counterterrorism chief John Brennan: Certainly his location there outside of the capital raises questions. We are talking to the Pakistanis about this. It's inconceivable that bin Laden did not have a support system in the country that allowed him to remain there for an extended period of time
Our government is in fiscal distress. To make contributions to a country that isn't going to be fully supportive is a problem for many, said US senate intelligence committee chair Dianne Feinstein
German chancellor Angela Merkel: The al-Qaida leader's death has exposed some gaps in antiterrorism campaign
French foreign minister Alain Juppe: I find it a little difficult to imagine that the presence of someone like bin Laden ... in a relatively small town could go completely unnoticed. Pakistans position lacks clarity in our view
makes no sense. india is one of the largest iron ore exporters in the world along with australia and brasil....what india needs is not more iron ore when you produce a tiny 40 million tons of steel in 2010 compared with China's 650 million tons and japan's 120 million tons a year.... what you need is more coking coal which is equally important for steel making and you have none...
The Indian investment in this deal also includes setting up six millions per annum steel plant, a 1000 mw of power plant apart from the developement of necessary infrastructure including building rail, road and transmission lines to conenct the mines to the steel plant. The Afghan govt as per the agreement will also make mines avilable to the the Indians for coking coal as well to feed the facility.
Could be an alternative to the problems steel companies are facing in Orissa, but I am not sure that Afgahnaistan has coking coal and the infrastruture to support such a large industry operation...
The aggrement was signed after the presence of coking coal was confirmed at nearby dar-i-surf district and large iron ore resources made the deposit viable for development of steel industry.
Punit, US doesn't produce much steel any more and most of its steel production is from recycled steel. India's production is tiny compared with China and Japan, each producing 690 and 120 million tons in 2011....Long way to go for you boys....lol
yeah, but I don't think you will see any large scale steel production in Afgahnistan any time soon despite the presence of natural resources....To have a large industrial operation, you need all the infrasture and a stable political environment, none of which Afghanistan has....
\\Punit, US doesn't produce much steel any more and most of its steel production is from recycled steel\\
US does not produce much steel any more ? Even after taking into account the fact that majority of steel in US is reclycled, its still the third largest producer of steel next only to China and Japan.
\\To have a large industrial operation, you need all the infrasture and a stable political environment, none of which Afghanistan has\\
The Chinese govt disagrees and i tend to agree with them ! Lack of infrastructure and a stable political environment are certainly are impediments but that does not mean there cannot be any development or foreign investments.
World's third largest producer of steel (however small it is compared to china or japan's output ) does not equals "US doesn't produce much steel any more".
No one said it does compare with China. I was refuting your point that US does not produce much steel anymore. It does not produce much steel anymore compared to china since its much more cost effective for them to import it from china but nevertheless if you leave out china and japan,it does produce much steel than every other country out there.
it's all relative....US defintely doesn't make much steel when compared to China...That's a fact. And the amount of steel produced by India is just shameful...
just shut up and admit you dont have a phucking clue and lied when you said US doesnt make steel.
bloody immigrant scum.
=================================================================
Quotations by global leaders on phuckistan
British PM David Cameron: There will be lots of questions about what support system bin Laden had in Pakistan, and we need those questions answered
White House counterterrorism chief John Brennan: Certainly his location there outside of the capital raises questions. We are talking to the Pakistanis about this. It's inconceivable that bin Laden did not have a support system in the country that allowed him to remain there for an extended period of time
Our government is in fiscal distress. To make contributions to a country that isn't going to be fully supportive is a problem for many, said US senate intelligence committee chair Dianne Feinstein
German chancellor Angela Merkel: The al-Qaida leader's death has exposed some gaps in antiterrorism campaign
French foreign minister Alain Juppe: I find it a little difficult to imagine that the presence of someone like bin Laden ... in a relatively small town could go completely unnoticed. Pakistans position lacks clarity in our view
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