The chaos may offer China -- which dominates the world market for rare earths, widely used in technology -- to step in to develop the mineral reserves.
The fall of Afghanistan to the Taliban has led to grave concerns about the safety of Afghan citizens and foreigners alike, but also raised questions about the future of the nation’s vast mineral reserves, once valued at as much as $3 trillion.
“People who understand exploration have long looked at Afghanistan with desire,” he told MarketWatch, adding that Afghanistan has routinely sent representatives to international mining conferences in the past 20 years to “give talks about the mineral endowment.” The country already has “an extensive, small-scale mining industry,” with countless mines pulling out gemstones and other mineral specimens, said King. However, “big mining is near non-existent.”
Still, among the candidates for mine development in Afghanistan long term is China, said King. Representatives from China have routinely visited and toured Afghanistan over the past two decades, so China likely has a “superb handle on mineral deposits.” “Afghanistan is a long-term play on the best of days and now that the Taliban have ‘won’, it’s more of a long-term play for Chinese interests,” he said.
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