A seven-member consortium led by state-run Steel Authority of India (SAIL) has bagged the development right to mine three out of four iron ore reserves at Hajigak in Central Bamiyan province of Afghanistan. The Indian consortium had got the rights to mine B, C and D, having reserves of 930 million tonne, 357 million tonne and 175 million tonne respectively. Mine A has gone to a Canadian firm. The mines, located across the Hindu Kush Mountains, between Bamyan and Maidan Wardak provinces, are known for rich source of iron ore. The cumulative reserves in the four mines are estimated to be over 1.8 billion tonne.
SAIL will have the majority 20% stake in the special purpose vehicle (SPV), which is to be created for the development of the mines, while two other state-run firms - Rashtriya Ispat and NMDC - would have 18% stake each. Private players - JSW Steel and Jindal Steel & Power will have 12% stake each in the SPV. JSW Ispat and Monnet Ispat would have the remaining between them. The Central Bamyan province is largely peaceful. However, the Afghan government has already started construction of security posts around the mine, however law and order were unlikely to cause any problem to carry out the mining job. The $6 billion likely investment by the Indian firms would also be a boon for the cash-strapped and war-ravaged Afghanistan.
| Company Name | CMP |
|---|---|
| Tata Steel | 206.55 |
| JSW Steel | 1204.00 |
| SAIL | 167.90 |
| Jindal Stainless | 765.15 |
| APL Apollo Tubes | 1978.50 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: