Value of Afghanistan’s mineral discovery needs to be dealt with cautiously
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The good news from the men at the Pentagon is that beneath the landmines Afghanistan is sitting on a goldmine.
Exactly when they took their degrees in geology is unclear but officials have estimated that Afghanistan’s mineral resources could be worth $1 trillion.
This suspiciously round number appears to be based on geological surveys made decades ago as well as recent on-the-ground research.
How thorough that could have been is open to debate, given that it takes the world’s best miners about a decade to explore a new area.
Factor in Afghanistan’s size, and the Pentagon must have had an army of geologists working in the country since immediately after 9/11 to have accurately studied its terrain.
The $1 trillion figure is, therefore, highly misleading. It is a theoretical number and may have little relation to the value of resources that could actually be exploited.
And...
World’s Mining Companies Covet Afghan Riches
WASHINGTON — Mining companies around the world are eager to exploit Afghanistan’s newly discovered mineral wealth, but executives of Western firms caution that war, corruption and lack of roads and other infrastructure are likely to delay exploration for years.
A few high-risk investors are sufficiently intrigued by the country’s potential to take an early look. JP Morgan, for instance, has just sent a team of mining experts to Afghanistan to examine possible projects to develop.
[edit on 18-6-2010 by SLAYER69]
