Nalco-led team eyes Afghan gold, copper reserves

KOLKATA: A consortium of three state-owned miners led by National Aluminium Company has decided to submit expressions of interest for exploration of gold and copper reserves in Afghanistan. The move, which comes close on the heels of a successful bid by a SAIL-led consortium for Afghanistan’s Hajigak iron ore reserves, is the first such venture in the non-ferrous sector.

The consortium, which includes Hindustan Copper (HCL) and Mineral Exploration Corporation, has written to the union mines ministry seeking inter-ministerial coordination. “We will take one step at a time,” HCL CMD Shakeel Ahmed said, adding , “The detailed structure of the consortium, including stakes to be held by the partners, will be decided later. We will also seek suggestions from SAIL on proceeding with this deal.”

The last date for submission of EoI is March 16, 2012. This is the first time Afghanistan has invited bids to develop goldmines in the provinces of Badakhshan and Ghazni and to extract copper in Heart, Sar-I-Pul and Balkh. The Afghan government will announce the shortlist of bidders on March 23, after which it will invite financial bids .