$20M Gold Mining Contract Signed in Kunduz

DID Press: Taliban’s Ministry of Mines and Petroleum has announced the signing of a $20.24 million contract for the extraction of a gold mine in Qala-e-Zal district of Kunduz Province.

According to ministry spokesperson Homayoun Afghan, the five-year agreement was signed between a domestic private company and an Azerbaijani firm during a ceremony attended by the ambassadors of Azerbaijan and Kyrgyzstan.

The ministry stated that the companies involved are required to pay 30 percent royalties from extraction revenues to the Afghan government.

Under the agreement, an additional $200,000 will be invested in social services and community development projects in the area.

Officials said the mining project is expected to create around 100 direct and indirect jobs.

The contract comes as Afghanistan seeks to expand its mining sector through foreign investment in an effort to stimulate economic growth and increase employment opportunities.