The Ministry of Mines and Petroleum announced that Minister Mullah Hedayatullah Badri on Sunday signed a contract for the extraction of a gold mine in Qala-e-Zal district of Kunduz province.
According to the ministry, the mine covers an area of 5.97 square kilometers. The five-year extraction contract, valued at $20.24 million, was signed with Subhan Momand Company and Azerbaijan’s Reef Group Company during a ceremony attended by the ambassadors of Azerbaijan and Kyrgyzstan.
The companies pledged to pay a 30 percent royalty and invest $200,000 in various social service projects. They also committed to creating job opportunities for 100 people through both direct and indirect employment.
Meanwhile, the ambassadors of Azerbaijan and Kyrgyzstan stated that their companies are interested in expanding further investment in Afghanistan’s mining sector.