Afghanistan has untapped mineral resources worth at least $1trillion and could become one of the world's most important mining centres, according to the Pentagon.
A report by US geologists confirms rich reserves of iron, copper, cobalt, lithium and gold which could lift the country out of deep poverty and end its reliance on the opium trade.
The taskforce charged with looking at Afghanistan's economy is helping the country prepare for bids by major mining firms in the coming months.
"We hope that as early as late this year, there will begin to be tenders offered for public bid," said deputy under-secretary of defence for business Paul Brinkley.
However, mining experts claim the $1trillion estimate is based on old Soviet data and does not take into account the costs associated with the country's severe lack of infrastructure or its political instability.
A Pentagon memo states that Afghanistan could become "the Saudi Arabia of lithium" - a key material used in laptop and mobile phone batteries - with deposits to rival Bolivia's extensive resources.
But some cynics have questioned the timing of the news, emerging as both the US and Afghanistan desperately try to prop up public support for the military mission.
Several geologists working in Afghanistan have also warned that it takes years to prove substantial lithium deposits, indicating that talk of large discoveries could be too optimistic.
Chinese mining companies have already shown an interest in the country, but development is hindered as many of the mineral deposits are located in areas that are still Taliban strongholds.
And if the country came into sudden wealth it could well exacerbate its problems, according to Mike Davis, a specialist in natural resources and armed conflict with NGO Global Witness.
"The particularly corrosive effect that the theft of these resources can have is to make politicians who were powerful and possibly corrupt even less accountable to the people," said Mr Davis.
"It increases their capacity to do everything from rig elections to building up militias. It's really like pouring petrol on a fire that's already out of control."
Source: http://news.sky.com/skynews/Home/World-News/Afghanistans-Mineral-Wealth-Is-Worth-1trillion-According-To-A-New-Pentagon-Report/Article/201006315649451?lpos=World_News_First_Home_Article_Teaser_Region_2&lid=ARTICLE_15649451_Afghanistans_Mineral_Wealth_Is_Worth_%241trillion_According_To_A_New_Pentagon_Report
A report by US geologists confirms rich reserves of iron, copper, cobalt, lithium and gold which could lift the country out of deep poverty and end its reliance on the opium trade.
The taskforce charged with looking at Afghanistan's economy is helping the country prepare for bids by major mining firms in the coming months.
"We hope that as early as late this year, there will begin to be tenders offered for public bid," said deputy under-secretary of defence for business Paul Brinkley.
However, mining experts claim the $1trillion estimate is based on old Soviet data and does not take into account the costs associated with the country's severe lack of infrastructure or its political instability.
A Pentagon memo states that Afghanistan could become "the Saudi Arabia of lithium" - a key material used in laptop and mobile phone batteries - with deposits to rival Bolivia's extensive resources.
But some cynics have questioned the timing of the news, emerging as both the US and Afghanistan desperately try to prop up public support for the military mission.
Several geologists working in Afghanistan have also warned that it takes years to prove substantial lithium deposits, indicating that talk of large discoveries could be too optimistic.
Chinese mining companies have already shown an interest in the country, but development is hindered as many of the mineral deposits are located in areas that are still Taliban strongholds.
And if the country came into sudden wealth it could well exacerbate its problems, according to Mike Davis, a specialist in natural resources and armed conflict with NGO Global Witness.
"The particularly corrosive effect that the theft of these resources can have is to make politicians who were powerful and possibly corrupt even less accountable to the people," said Mr Davis.
"It increases their capacity to do everything from rig elections to building up militias. It's really like pouring petrol on a fire that's already out of control."
Source: http://news.sky.com/skynews/Home/World-News/Afghanistans-Mineral-Wealth-Is-Worth-1trillion-According-To-A-New-Pentagon-Report/Article/201006315649451?lpos=World_News_First_Home_Article_Teaser_Region_2&lid=ARTICLE_15649451_Afghanistans_Mineral_Wealth_Is_Worth_%241trillion_According_To_A_New_Pentagon_Report
