Global News Journal

Beyond the World news headlines

from Afghan Journal:

Afghanistan’s treasure trove: a reality check

Photo

(An oil installation near Herat, western Afghanistan)

(An oil installation near Herat, western Afghanistan)

A team of U.S. geologists and Pentagon officials have concluded that Afghanistan is sitting on untapped mineral deposits worth more than $1 trillion, officials said. The deposits of iron, copper, cobalt and critical industrial elements such as lithium are enough to  fundamentally alter the Afghan economy and perhaps the war itself, the officials said.

Lithium is a key raw material for the manufacture of batteries for laptops and mobile phones, and the potential reserves of the metal are so huge that the country may well become the "Saudi Arabia of lithium", a Pentagon memo said.

So is Afghanistan going to mine its way out of its current troubles ? For all the hope the finding has stirred in a landscape of death and destruction, unlocking Afghanistan's mineral riches may be decades away, experts say.   The country has almost no mining infrastructure, is in the midst of a wrenching war and has a reputation for government corruption.  The risks are far too big for most companies to get involved, however enticing the deposits look.

The curious thing is this is not the first time Afghanistan's mineral riches have been discovered. Back in  January 1984, the chief engineer of the Afghan Geological Survey Department published a report saying the country had reserves of a wide variety of mineral resources, including iron, chrome, copper, silver, gold, barite sulfur, talc, magnesium, mica marble and lapis lazuli.  The Afghan Chamber of Commerce has details of the report here. The Afghan government in the mid 1980s  was preparing to develop a number of the mineral resources on a large scale with Soviet technical assistance, the chamber said. But the Russians left in 1989 and Afghanistan descended into a war which has, more or less, continued  since then.The report also mentions abundant reserves of natural gas, so don't be surprised if that too resurfaces as another silver lining in Afghanistan's cloudy sky.

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