Monday, June 14, 2010
$1 Trillion in Mineral Deposits Discovered in Afghanistan
From Iraq oil to Afghanistan minerals. A Pentagon team and U.S. geologists discovered mineral deposits valued upwards of $1 trillion dollars. Deposits of iron, copper, cobalt, gold and lithium are scattered throughout the country, mainly in the south and east, near the border with Pakistan. This is the area where the Taliban strongholds are located.
The U.S. team estimates that development of Afghanistan's mineral deposits would make them a major world producer. Already China has invested $4 billion to develop the Aynak copper mine. Other players would include Russia and India.
An internal Pentagon memo stated the Afghanistan could become the next Saudi Arabia of lithium, which is used in the manufacture of batteries, laptops and other electronics such as mobile phones.
Other finds include large deposits of niobium, used in producing superconducting steel, rare earth elements and large deposits of gold.
General David Petraeus, commander of U.S. Central Command said: "There are a lot of ifs, of course, but I think potentially it is hugely significant."
Do you believe that the vast mineral wealth of Afghanistan is a game changer?
Posted by Crude Oil Daily at 2:16 PM
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