Afghanistan “Cops Out” to China

From Radio Free Europe, news that Afghanistan has awarded China’s state-owned China Metallurgical Group with the right to develop a large copper field to the south of Kabul, following two years of bidding. According to the article, CMG agreed to invest billions of dollars in the project and related infrastructure development — including the construction of a coal-fired electrical power plant and what would be Afghanistan’s first freight railway.

“…By the estimates of some geologists, deposits at Afghanistan’s Aynak copper field in Logar Province make it the world’s largest undeveloped copper field…

…Afghan Mining Minister Ibrahim Adel says the Chinese company has agreed to invest nearly $3 billion in order to set up mining operations and overcome the lack of basic infrastructure.

“With this mining project at the Aynak copper field, we will have about $2.8 billion of direct investment,” Adel said. “About $500 million will be invested in building an electrical power plant. And a large amount of money also will be invested in building a railroad. This is one of the biggest foreign investment projects in the history of Afghanistan.”

Khozman Ulumi, a spokesman for the Afghan Mining Ministry, told RFE/RL’s Radio Free Afghanistan that preliminary plans call for a railroad link from Tajikistan to the copper field and on to Pakistan….”



This entry was posted on Wednesday, November 28th, 2007 at 1:00 pm and is filed under Afghanistan, China, China Metallurgical Group.  You can follow any responses to this entry through the RSS 2.0 feed.  You can leave a response, or trackback from your own site. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.