Afghanistan’s untapped mineral wealth is worth at least $3 trillion — triple a US estimate, according to the government’s top mining official, who is going to Britain next week to attract investors to mine one of the world’s largest iron ore deposits in the war-torn nation. Geologists have known for decades that Afghanistan has vast deposits of iron, copper, cobalt, gold and other prized minerals, but the US department of defence briefing this week put a startling, nearly $1 trillion price tag on the reserves. Minister of mines Wahidullah Shahrani said on Thursday that he’s seen geological assessments and industry estimates that the minerals are worth at least $3 trillion.
“Afghanistan has huge untapped natural energy and mineral resources which have enormous potential for our economic development,” Mr Shahrani said.
“Ensuring that this is done in the most transparent and efficient way while delivering the greatest value to the country is a priority of the government.” Critics of the war have questioned why the nation’s mineral worth was being promoted at a time when violence is on the upswing and the international coalition is under rising pressure to prove that its counterinsurgency strategy is working.
They argue that if impoverished Afghanistan is seen as having a bright economic future, it could help foreign governments persuade their war-fatigued publics that securing the country is worth the fight and loss of troops, US officials say. But Mr Shahrani insisted that the release followed months of work to assess the mineral deposits with the aid of old geological information obtained by several different nations over more than three decades of conflict.