Thursday, April 26, 2012

Indian consortium among firms shortlisted for Afghan copper, gold assets

A consortium of Indian firms is among the 25 companies shortlisted to get new copper and gold deposits in Afghanistan.


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The cost-effective Times reports four state-owned companies - SAIL, Nalco, Hindustan Copper and Mineral Exploration Corp - joined two private companies, Monnet Ispat & Energy and Jindal Steel and Power, in making the cut.



Forty-one bidders happen to be shortlisted to 25; the opposite companies come from the US, Canada, UK, Australia, UAE, Turkey and Afghanistan.



In line with the Economic Times, the six Indian companies could form a public-private partnership, similar to the joint bid awarded in November to some SAIL-led consortium to mine the massive Hajigak iron ore deposit- one among the greatest iron deposits on the globe at 1.8 billion tonnes.



The multi-billion-dollar contract could be allocated to a steel plant, power plant and 200 kilometres of rail, road and utility lines - an infrastructure buildout estimated to cost $10.8 billion.



The opposite companies were state-run Rashtriya Ispat Nigam Ltd., private-sector firms JSW Steel Ltd., Jindal Steel & Power Ltd., JSW Ispat Steel Ltd., Monnet Ispat & Energy Ltd., and Canada’s Kilo Goldmines.



Afghanistan has invited expressions appealing for gold and copper deposits in four provinces, that happen to be expected by July of this year.



China in addition has gone after acquire mining interests in Afghanistan with state-owned Metallurgical Corp’s successful $3.4bn bid to construct a copper mine - as well as a $6bn railway to go with it - which should enter production in 2014.



MINING.com connected to an article a year ago about a 2007 US Geological Service survey that pointed to $1 trillion in nutrients in Afghanistan, that could “fundamentally alter the Afghan economy as well as perhaps the Afghan war itself.”:



The previously unknown deposits - including huge veins of iron, copper, cobalt, gold and critical industrial metals like lithium - are so big and include countless minerals that are essential to modern industry that Afghanistan may ultimately be transformed into one of the most important mining centers on earth. An internal Pentagon memo, by way of example, states that Afghanistan could end up being the “Saudi Arabia of lithium,” a key raw material inside the manufacture of batteries for laptops and BlackBerrys.
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