18 November 2018

RSS Facebook

Ads

Economic

Sunday, October 07, 2018

Kabul (BNA) Afghanistan signed deals in the United States on Friday to develop the country’s gold and copper mines in northern Badakhshan and Sar-e-Pul provinces.
A statement from Afghanistan embassy in Washington said the contracts were signed between the Ministry of Mines and Petroleum (MoMP) and Central Limited Company in the embassy on Friday.
Madina Qasimi, Afghanistan Charge de Affair in Washngton, said, “These contracts signed are very important and it proves the Afghan government’s commitment regarding the private sector.”
She said Afghanistan was moving towards self-sufficiency and the private sector could play an important role in that move.
Acting mines and petroleum minister, Nargis Nehan, talked about transparency in contracts and approval of new laws in her ministry.  She said that partnership between the government and the private sector would help create jobs.
Sayed Sadat Mansour Naderi, a shareholder of Central Ltd and Enhananam, executive chief of the company talked about the importance of foreign trade and development of the private sector.
He said that the contracts signing would attract more investors for investment in Afghanistan.
Turkish Afghan Mining Company will invest $22 million in Badakhshan gold mine in the first three years of exploration, while Afghan Gold and Minerals Company will invest $56 million on Balkhab copper during the same period.
Centar hopes to begin exploration in the sites next year.  Within the first year of operation, both projects could be among the largest private-sector employers, it said.
According to Centar, the Balkhab Copper Project covers 500-squar-kilometer area while the gold project in Badakhshan covers twice the size.
 

Saturday, October 06, 2018

Kabul (BNA) Based on Union of money exchangers in Sari Shahzada, Kabul city, the exchange rate of Afghani as a follow:
                                                                           
One Dollar                                                              75/80        Afs
One Pound Sterling                                            98/20       Afs
One Euro                                                            87       Afs
One Emirate’s Dirham                                       20/45       Afs
One Thousand Pakistani Rupees                           584       Afs
One Thousand Indian Rupees                              1050       Afs
One Thousand Iranian Rupees                            05/40       Afs
 

Saturday October 6, 2018

Kabul (BNA) A company founded by a London-based banker signed agreements Friday with the government of Afghanistan to explore for gold and copper in the north of the country.
Centar Ltd. said it hopes to begin exploration in two sites next year and would within a year become one of the largest private-sector employers in the country.
Company officials held a signing ceremony at Afghanistan's embassy in Washington with the country's finance minister, Mohammad Humayon Qayoumi, and the minister of mines and petroleum, Nargis Nehan.
Centar said in announcing the deal that it would explore for copper in an area of about 190 square miles (500 square kilometers) known as Balkhab and for gold in an area about twice the size called Badakhshan. The British company was founded by Ian Hannam, a former chairman of capital markets at JP Morgan, and says it has investors from the U.S., Britain and several other nations.
Afghanistan is believed to have a largely untouched wealth of minerals and metals. But war and corruption have prevented the development of a modern mining industry and the country remains one of the world's poorest counties.
Anti-corruption organization Global Witness said Afghan and civil society organizations have raised concerns about this project, including that a former government minister is a partner in the venture in an apparent violation of a law barring someone in that position from acquiring a mining concession within five years of leaving the post.
Sadat Mansoor Naderi, who served as minister of housing and development from 2015 until June of this year, is now president of Afghanistan Gold and Minerals, Centar's local partner in the venture.
Centar CEO Bradley Barnett said the company obtained its concession in 2012, before Naderi became a minister, and has not violated the law. "That is the interpretation that we have and that everybody that we consulted has," he said.
Ksl
 

Wednesday, October 03, 2018

Kabul (BNA) Based on Union of money exchangers in Sari Shahzada, Kabul city, the exchange rate of Afghani as a follow:
                                                                           
One Dollar                                                              75/65       Afs
One Pound Sterling                                            97/20       Afs
One Euro                                                            87/30       Afs
One Emirate’s Dirham                                       20/45      Afs
One Thousand Pakistani Rupees                           583       Afs
One Thousand Indian Rupees                              1050       Afs
One Thousand Iranian Rupees                            05/30       Afs
Yarzada
 

Page 7 of 372