Wednesday, May 18, 2011

Trying To Develop Afghanistan's Mineral Wealth In The Middle Of A War

Villagers assembled for a ribbon-cutting ceremony at the gold mine in Qara Zaghan. The U.S. government estimates that minerals worth nearly $1 trillion lie beneath Afghanistan's soil.

J.P. Morgan's Hunt For Afghan Gold -- CNN Money

A team of bankers starts to tap the country's vast mineral riches, with help from the Pentagon.

FORTUNE -- Qara Zaghan, Afghanistan: The four Black Hawk helicopters sweep down on this remote river valley, flying fast and single file. Snow covers the mountains' peaks, but the lower slopes look like rust -- dry, rocky, and bare. As we bank around the river bend, we see our first flash of green in the fields below and then the rectangular mud huts of the village, where hundreds of Afghans mass to greet us.

"That's the mine over there," one of my companions says, pointing to the cliffs rising above the village.

Read more ....

Update: This Eccentric Former Soldier Is Leading JPMorgan's Hunt For Gold In Afghanistan -- Business Insider

My Comment: I will be surprised if they can pull this off. Ignoring the war .... Afghanistan's culture, lack of infrastructure, trained personnel, corruption .... everything that can go against this project is there .... and then some. I wish them the best .... but Afghanistan is not that type of country that has any luck going for it right now.

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