KABUL, May 4 — The Afghan Ministry of Mines and Petroleum has awarded a contract for the development of a poly-metallic mine in the Seh Ko area of Kohistan district, northern Faryab province.
The contract, covering an area of 1.12 square kilometers with a total investment of 24.33 million U.S. dollars, will run for 30 years, subject to full compliance with Afghanistan’s mining laws, regulations, and all contractual obligations, the ministry said in a statement on Sunday.
In addition to extracting minerals, the project is expected to generate direct employment for 130 Afghan citizens while incorporating social service initiatives and community development programs in the region, it said.
The royalty rate for the mine has been set at 16 percent of pure gold, reflecting the deposit’s metallic profile.
This agreement marks another step in the Afghan government’s efforts to develop the country’s mineral resources through international and domestic investment, with an emphasis on job creation and adherence to legal frameworks. (Namibia Daily News/Xinhua)
