On September 25, the government of Afghanistan opened a new tender for the Hajigak iron ore reserves, which are believed to be the world's largest with an estimated two billion mt of high grade ore.
Afghanistan had started a tender process last year for the mine; however, it received only minor interest and so cancelled the process, promising security for investors despite the worsening insurgency.
As reported by international media, mines minister Wahidullah Shahrani announced the latest tender, stating that the mine would generate an annual $300-400 million in direct earnings for the Afghan government and $1.5 billion in indirect income for the country.
Applications are to be made by mid-January as award of the tender is expected to take place in August 2011, with at least two more years of exploration to follow. It is hoped that production will start by 2014 at the mine with reserves estimated to be worth as much as $350 billion.