Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Taliban in ‘no hurry’ to agree $10bn lithium deal with China

Taliban in ‘no hurry’ to agree $10bn lithium deal with China

The Taliban said on Monday they were not in a hurry to give China access to Afghanistan’s lithium reserves, despite an offer to pay for access to the rich deposits of the metal.
Afghanistan has abundant mineral riches, which also include copper, gold, oil, natural gas, uranium, bauxite and iron. The US Department of Defense estimated in 2010 that it could be holding $1 trillion of untapped mineral deposits.

The country’s reserves of lithium are key to the global supply of a metal that is crucial to the production of batteries for electric vehicles.

Chinese company Gochin held talks with Afghan Mines and Petroleum Minister Shahabuddin Delawar last month and, according to the ministry, offered to invest $10 billion in mining the metal and employing 120,000 people for the operations.

But although the deal could fuel hopes for the revival of Afghanistan’s reeling economy, its Taliban rulers say they are in no rush.

“We are not in a hurry for the lithium contract, we will not take hurried steps and action in this regard. We are not obliged to give this contract only to China,” Hamayoon Afghan, spokesman for the Ministry of Mines and Petroleum, told Arab News.

“It’s yet to be known when the contract will be signed and it’s not necessary for the contract to be signed only with China. We will consider our own benefits.”

Another government source, who was not authorized to talk to the media, told Arab News that a number of foreign companies had in recent months expressed interest in investing in Afghanistan’s mining sector.

The reason Beijing is interested in Afghanistan’s lithium reserves is related also to their proximity, according to Muhibullah Sharif, a political science expert in Kabul.

Afghanistan and China are connected by land through the narrow, resource-rich Wakhan Corridor.

“China wants to get it at a very low price and without applying any related international standards,” Sharif said.

“Such activity is intended to provide from one side raw materials for the industrialization of China and from other side to create a political block at the regional level against Western countries.”

While the Mining Ministry pledged after its meeting with China that the lithium would be processed entirely in Afghanistan and infrastructure would be built for the purpose, Sharif said he was skeptical about the commitment.

“It will be difficult for the Taliban to ensure that China will carry out its promises properly and in the interest of Afghanistan,” he said.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
Italy Faces Population Decline Amid Youth Emigration
Trump Accuses China of Violating Trade Agreement
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Russia Accuses Serbia of Supplying Arms to Ukraine
Gerry Adams Wins Libel Case Against BBC
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
EU Majority Demands Hungary Reverse Anti-LGBTQ+ Laws
Top Hotel Picks for 2025 Stays in Budapest Revealed
Iron Maiden Unveils 2025 Tour Setlist in Budapest
Chinese Film Week Opens in Budapest to Promote Cultural Exchange
Budapest Airport Launches Direct Flights to Shymkent
Von der Leyen Denies Urging EU Officials to Skip Budapest Pride
Alcaraz and Sinner Advance with Convincing Wins at Roland Garros
EU Ministers Lack Consensus on Sanctioning Hungary Over Rule of Law
EU Nations Urge Action Against Hungary's Pride Parade Ban
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
U.S. Considers Withdrawing Troops from Europe
Russia Deploys Motorbike Squads in Ukraine Conflict
Critics Accuse European Court of Human Rights of Overreach
Spain Proposes 100% Tax on Non-EU Holiday Home Purchases
German Intelligence Labels AfD as Far-Right Extremist
Geert Wilders Threatens Dutch Coalition Over Migration Policy
Hungary Faces Multiple Challenges Amid EU Tensions and Political Shifts
Denmark Increases Retirement Age to 70, Setting a European Precedent
Any trade deal with US must be based on respect not threats', says EU commissioner
UK Leads in Remote Work Adoption, Averaging 1.8 Days a Week
Thirteen Killed in Russian Attacks Across Ukraine
High-Profile Incidents and Political Developments Dominate Global News
Netanyahu Accuses Western Leaders of 'Emboldening Hamas'
Ukraine and Russia Conduct Largest Prisoner Exchange of the War
×