Afghanistan Signs Contract for Alluvial Gold Extraction

Kabul (ANTARA) - The Ministry of Mines and Petroleum of Afghanistan on Sunday signed a contract worth $89.06 million for the extraction of alluvial gold in the northern province of Takhar, a move aimed at boosting economic activity and creating much-needed jobs. The 10-year concession agreement covers the Shul Dara and Warchi sectors in Chah Ab district, with the stipulation that 40 percent of royalties be deposited with the Afghan government, according to a statement issued by the ministry. In addition to gold extraction, the projects are expected to create direct and indirect employment for 7,000 Afghan citizens, as well as include social service initiatives and community development programmes in the surrounding areas, the statement added. The entity signing the contract also committed to allocating $2 million for community welfare and social development projects, demonstrating a commitment to benefiting local communities beyond resource exploitation. The agreement is the latest in a series of mining contracts signed by the Afghan government to diversify revenue, spur economic activity, and provide job opportunities amid ongoing economic hardship.