Saturday, June 19, 2010

World’s Mining Companies Covet Afghan Riches

JP Morgan, for instance, has just sent a team of mining experts to Afghanistan to examine possible projects to develop.

“Afghanistan could be one of the leading producers of copper, gold, lithium and iron ore in the world,” said Ian Hannam, a London-based banker and mining expert with JP Morgan. “I believe this has the potential to be transforming for Afghanistan.”

“There are huge deposits there,” said David Beatty, chief executive of Rio-Novo Gold, a mining company based in Toronto. “But as chief executive, would I send a team to Kandahar? And then call a guy’s wife after he gets shot? No.”

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