World Bank to Keep Close Eye on Chinese-Run Afghan Mine

18 February 2010 (Last Updated February 18th, 2010 18:30)

The World Bank has recommended close monitoring of Metallurgical Corp of China (MCC) mine in Afghanistan to ensure the local community sees benefits from it. World Bank mining specialist Gary McMahon said the Aynak mine has the potential to generate at least $210m a year for the Afghan

The World Bank has recommended close monitoring of Metallurgical Corp of China (MCC) mine in Afghanistan to ensure the local community sees benefits from it.

World Bank mining specialist Gary McMahon said the Aynak mine has the potential to generate at least $210m a year for the Afghan economy during the construction phase alone.

“Once the mine is ready to start extracting copper ore, possibly by 2016, the economic benefit may increase to at least $283m annually,” McMahon told news service Bloomberg.

“The $3bn mine, Afghanistan’s largest economic development project may be worth at least $8bn when an associated coal mine, railway and other construction are included.”

The World Bank is funding a monitoring project to oversee operations by MCC and the Afghan Government to ensure contract terms are fulfilled and that employment and subcontracting go to the Afghan people as much as possible.

The mine is expected to create thousands of jobs for its operations alone, and the knock on affect for infrastructure development will also help create jobs and boost the Afghan economy.