<p><a href="/en/afganistan/kabul" class="glossify-link">KABUL</a>): An Indian consortium and a Canadian firm would jointly invest $14.6 billion (729.4 billion afs) in developing the Hajigak iron mine, an official said on Saturday.</p>
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<p>The mine in central Bamyan province, which is estimated to hold 1.8 billion tonnes of high-quality iron ore deposits, was discovered around 50 years ago.</p>
<p>According to the Ministry of Mines, extraction rights for B, C and D blocks of the mine had been given to AFISCO -- an Indian consortium of seven companies, led by the Steel Authority of India Limited (SAIL), and a fourth block called "A" to Canada's Kilo Goldmines Ltd.</p>
<p>Mines Minister Wahidullah Shahrani told Pajhwok Afghan News the volume of investment was agreed at a meeting between the companies and the inter-ministerial committee under the supervision of international observers.</p>
<p>He said talks with other companies were also underway on building railway lines connecting the mine to other parts of the country. Shahrani hoped a contract on the railroad would be signed by June this year.</p>
<p>In November 2007, China's Metallurgical Group Corporation (MCC) won the bid to develop the mine, a project involving the largest foreign investment in <a href="/en/afghanistan" class="glossify-link">Afghanistan</a>'s history and employing 10,000 people.</p>
<p>The US Geological Survey assessed in 2007 that Afghanistan has significant amounts of undiscovered non-fuel mineral resources.</p>
<p>Unveiled at the third US-Afghan Business Matchmaking Conference organised by the Afghan-American Chamber of Commerce in Washington, the survey said mineral resources represented a great source of the country’s industrial growth and wealth.</p>
<p>mas/ma/mud</p>
