The mine, located in eastern Afghanistan, is believed to sit on one of the largest unexploited copper deposits in the world. The Chinese put its current value at $10 billion, but the ambitious
The problems in the Mes Aynak mine provide an illustrative case study of the difficulties. The year 2017 marked the ninth anniversary of the Mes Aynak concession, which was awarded in May 2008 to two Chinese stateowned companies, the China Metallurgical Group Corporation (MCC) and the Jiangxi Copper Company Limited.
Watch video0183;32;A controversial Chinese copper mine in Afghanistan has run into complications after the executive leading the $3 billion project was expelled from the Chinese
(MoneyWatch) In November 2007, the China Metallurgical Group Corp., a stateowned conglomerate, signed a $3 billion contract with the Afghan Ministry of Mines and Petroleum to mine copper from a barren, mountainous region southeast of Kabul.
Facing what is now more than a two year delay in the opening of the Ainak copper mine, the Afghan government has indicated that it is considering readvertising the contract for the project which had been won by a consortium of Chinese stateown companies.
two yearlong delay in the opening of the Ainak copper mine, the Afghan government has indicated that it is considering to readvertise the contract for the project which had been won by a consortium of Chinese stateown companies.
China has invested almost $3 billion in Afghanistan's copper market, the film notes, and this mine could reap $100 billion worth of copper. quot;The Chinese governmentowned company plans to mine the copper using an openpit method, the cheapest, most environmentally destructive style of mining,quot; the filmmakers explained.
Instead it is a gigantic mining operation. A Chinese firm with a contract to dig up valuable copper ore that lies beneath the site is waging a battle against Afghan and foreign archaeologists who are fighting to save ancient Mes Aynak.
MCC has a US$3 billion deal to mine and process copper south of Kabul. With copper prices falling and the Chinese economy slowing, and security in Afghanistan deteriorating, the company has yet to begin production on the site and, according to mining industry and other sources, no longer wants to abide by the terms of the contract it signed in 2007.
Feb 21, 20170183;32;Chinese companies, including MCC, Zijin Mining Group Company, China National Petroleum Corporation, and Jiangxi Copper Corporation, are seeking to extract billions in minerals from Afghanistan. A new OBOR rail link between China and the North of Afghanistan would bring those minerals to China, bypassing Pakistan.
Dec 23, 20120183;32;The copper at the Mes Aynak mine, just an hours drive south of Kabul, is to be extracted under a roughly $3 billion deal signed in 2007 between Afghanistan and Chinas Metallurgical Group Corporation.
In Aynak, a site located 20 miles south of Kabul, two Chinese SOEs the Metallurgical Company of China (MCC) and the Jiangxi Copper Corporation (JCC) won a contract in 2007 to develop the world's
JALREZ VALLEY, Afghanistan In this Taliban stronghold in the mountains south of Kabul, the U.S. Army is providing the security that will enable China to exploit one of the world's largest unexploited deposits of copper, earn tens of billions of dollars and feed its voracious appetite for raw materials.
Two Chinese stateowned mining companies plan to destroy an ancient Buddhist city in Afghanistan in order to get the copper underneath it, according to a new documentary.
The 2007 deal with statecontrolled China Metallurgical Group (MCC) is worth $3 billion over 30 years to mine copper at Mes Aynak, 40 kilomteres southeast of Kabul. It is the world's second biggest deposit with 5.5 million tonnes.
A January 2008 report by Integrity Watch Afghanistan, a European research group, said that MCC extracted more copper than expected from a mine in Sandaik,
Dreams Of A Mining Future On Hold In Afghanistan Pieinthesky reports about vast mineral deposits of copper, iron, uranium and lithium are believed by many in Afghanistan to be the key to the country's future. But a Chinese copper mine east of Kabul is the only one optioned by an international company so far, and it's on hold.
A 5,000yearold historic site in Afghanistan may be destroyed by a Chinese mining company. The site, known as Mes Aynak, is filled with ancient Buddhist relics, many of which have yet to be
Watch video0183;32;CNBC was unable to reach MCC for comment via phone or email. The Chinese embassy in Kabul did not immediately respond to a request for comment. If completed, the Chinese copper mine would be a major source of revenue and employment for Afghans, according to Afghanistan's Ministry of Mines and Petroleum.
The Ministry of Mines and Department of Geological survey say as many as 242 sites of copper mines have been identified in Afghanistan out of which the Aynak,
When the Chinese won the contract to exploit the mine in 2008, there was no discussion with Kabul about the ruins only about money, security and building a railroad to transport the copper out
China's $3B copper mining deal in Afghanistan, the largest foreign investment in the country's history, is going nowhere. 10 years into a 30 year lease, supply chain problems are keeping any copper from being extracted at all.
Dec 30, 20090183;32;A delegation from the stateowned Chinese company, China Metallurgical Group Corporation, visited the site of a copper mine in Aynak, a former alQaeda stronghold southeast of Kabul, in 2007.
The site at Mes Aynak, in Afghanistan's Logar Province, is home to 5thcentury Buddhist monasteries, temples and other relics, but also sits on one of the largest copper deposits in the world. A Chinese governmentbacked company, keen to develop the world's second largest copper mine, discovered the ruins when they began excavating the site in 2010.
Afghanistans archaeologists are scrambling to save a 5,000yearold city that sits atop a massive copper mine.
I went there recently to visit the Chineseowned Aynak mine, one of the largest copper deposits in the world and set to commence operations in the coming years (though an exact date hasnt been
The Taliban has espoused support for several development projects, most recently the TurkmenistanAfghanistanIndiaPakistan gas pipeline but the Chinese Mes Aynak copper mine as well.
quot;China's recent 3.5 billion dollar contract bid for the Aynak Copper Field in Afghanistan is the single largest foreign investment in Afghanistan to date. Critics contend that China is getting a freeride on the coat tails of U.S.coalition stabilization efforts.
An Afghan government spokesman dismissed the Taliban's invitation to develop Mes Aynak, which in 2008 was signed over to Metallurgical Group Corporation, a Chinese stateowned enterprise. quot;The Taliban never protects projects, and it isn't their job.
China is already Afghanistans biggest investor. In 2007 it took a $3 billion, 30year lease for the Aynak copper mine. China and Pakistan have offered to extend the ChinaPakistan Economic Corridor (CPEC) to
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