KABUL, July 6 (Xinhua) -- Afghanistan's Ministry of Mines and Petroleum on Sunday inked contracts worth 89.06 million U.S. dollars for alluvial gold extraction in northern Takhar province, a move aimed at galvanizing economic activity and generating much-needed employment.
The 10-year concession agreements, covering the Shul Dara and Warchi sectors within Chah Ab district, mandate a 40 percent royalty remittance to the Afghan government, according to a statement issued by the ministry.
Beyond bullion extraction, the projects are expected to create direct and indirect employment for 7,000 Afghan citizens, while incorporating social service initiatives and community development programs in the surrounding region, the statement added.
The contracting entity has further pledged 2 million dollars toward community welfare and social development projects, signaling a commitment to localized benefits beyond resource exploitation.
The agreement is the latest in a series of mining contracts signed by the Afghan government to diversify revenue, spur economic activity, and provide employment opportunities amid persistent economic hardships. ■
