Monday, July 16, 2012

J.P. Morgan's hunt for Afghan gold - Fortune Management

http://management.fortune.cnn.com/2011/05/11/jp-morgan-hunt-afghan-gold/

"After the toppling of the Taliban by the U.S.-led coalition, the Afghan government, with financial assistance from the U.S. Agency for International Development, commissioned new, high-tech aerial surveys of Afghanistan. The results were stunning: The U.S. Geological Survey identified huge veins of copper, iron, lithium, gold, and silver. The Afghan government solicited bids for one of the biggest of the copper deposits, a site south of Kabul that had been identified by both Drummond and the Soviets. China, offering a rich price, won the bid in 2007, beating out four other mining companies. But the Chinese mining company has yet to extract any copper from the site because of delays clearing land mines from the area, and the discovery of archeological relics."

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