Troilus Gold brings potential funding from ECAs to $1.3 billion
The company has signed an additional LOI with Export Development Canada worth $300 million.
A group of Indian companies and Canada’s Kilo Goldmines Ltd. (CVE:KGL) have been awarded the contract to mine the Hajigak iron ore deposit in Afghanistan.
MINING.com reported Nov. 19 that Indian firms were leading the chase for the huge iron ore property, which is being touted by the Afghans as the world’s largest iron ore deposit at 1.8 billion tonnes. The deposit extends over 32 kilometres and covers 16 separate zones.
Bloomberg reports that President Hamid Karzai and his government awarded three of the four Hajigak blocks to seven Indian companies, led by state-owned Steel Authority of India Ltd. and NMDC Ltd., that were bidding with support from the Indian government. The fourth block was awarded to Kilo Goldmines, which is described on its website as a gold exploration and development company that is actively drilling several past-producing mines in the Democratic Republic of Congo (DRC).
The contract is estimated to be worth some $6 billion.
3 Comments
Chisha Bunda
Afghanistan will change forever once mining activity picks up and jobs are created for the masses. Let these firms get to work and assimilate and appreciate local culture, values and customs. Socially responsible operations will make Afghanistan and the world integrated and peaceful place.
disqus_LFF0zFjt7g
I hope Afghanistan will have peace and order too…and let there government adopt modern system not without religious and traditional intervention.
Sailor Mac
Don’t kid yourselves,, the Taliban etc. are committed to keeping Afganistan a backward theocracy. Anthing that challenges that or them will be attacked with all the tenacity and fury a group of zealots can muster