Amanze Chinonye
Afghanistan’s Taliban government is offering U.S. companies access to the country’s mineral resources as Kabul seeks foreign investment, sanctions relief and movement on Afghan central-bank assets held abroad.
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Taliban Foreign Minister Amir Khan Muttaqi told the newspaper that Afghanistan was open to American investment in mining, infrastructure, agriculture and trade.
“Our economic policy is open,” Muttaqi said during an interview in Kabul.
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The Financial Times reported that Muttaqi did not say whether the proposal had been presented directly to the White House.
U.S. and Afghan geological assessments conducted before the Taliban returned to power in 2021 estimated that Afghanistan had mineral resources worth at least $1 trillion. The resources identified in those assessments include copper, iron ore, lithium, cobalt, gold and niobium.
The Taliban has announced more than $7 billion in mining investments since returning to power in 2021, involving countries including China and Iran, according to the Financial Times. The projects include gold, gemstones and chromite.
The Taliban government is also seeking access to Afghan central-bank reserves held outside the country.
Afghanistan’s central bank estimates that about $9.5 billion in reserves remain abroad, including about $7 billion that had been held in the United States, according to the Financial Times.
In 2022, the United States transferred $3.5 billion of the Afghan reserves to the Switzerland-based Afghan Fund. The fund was established to support Afghanistan’s financial and economic stability while keeping the assets outside the direct control of the Taliban government. The Financial Times reported that the fund has since grown to more than $4 billion, including interest.
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Muttaqi has argued that sanctions have not achieved their intended objectives and has called for Afghan national assets to be returned.
The Taliban government has also sought the reopening of the U.S. Embassy in Kabul. The United States and Taliban remain divided over Washington’s demand for renewed access to Bagram Air Base, which the Taliban has rejected.
The Afghan proposal comes as the Democratic Republic of Congo is seeking greater U.S. investment in its mining sector under a strategic minerals partnership with Washington.
The DRC has offered U.S. investors priority access to designated strategic mining opportunities, while the partnership includes a right of first offer for U.S. persons on certain minerals marketed for export to the United States.
The DRC is a major producer of copper and cobalt and also has deposits of other strategic minerals.
The two initiatives are separate efforts by mineral-rich countries to attract U.S. investment and strengthen economic ties with Washington.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
