Posts Tagged ‘Copper’
The biggest concession is located in the province of Badakhshan in northern Afghanistan, consists of four areas of 250 square kilometers, as shown by the Afghan government might contain gold.
Two other deposits, north and west, which contain copper and four sites in the central province of Ghazi, a mixture of gold and copper, the ministry said in a statement.
The document does not specify a closing date of the auction. Since 1960 and 1970 has developed a small exploration work on the deposits.
The Afghan government relies heavily on the exploitation of mineral reserves, worth about $ 3 billion to boost the economy, which has been severely affected by decades of conflict.
However, analysts said the domestic investment interest will be limited by ongoing violence, which the UN is the worst since the US-led forces toppled the Taliban regime a decade ago.
“Afghanistan’s mineral resources have the potential to transform the nation’s economy,” said Minister of Mines Wahidullah Sahrawi said in a statement.
The government awarded a consortium of mining companies and steels in India, led by Steel Authority of India, the right to develop a large iron ore concession in Hajigak, in central Afghanistan last month.
The price of copper like other commodities and especially oil prices and the price of gold one can already estimate that will be affected by the consequences of the approval or disapproval of the U.S. debt ceiling, of which happens to the dollar as reference currency and the occasional tremor.
Yet the price of copper is trading at levels acceptable in the short term if we see markets as they move around.
By now the copper is in a slight correction once reached a strong resistance came to the ($ 9,695) a ton of copper and industry experts say its price matches the short-term trend so removing the uncertainty, the outlook is good.
One aspect to consider is also that it is closing below support; there is some difference in the MACD, being able to give rise falls reaching $ 9,465 a ton.
It is expected that the price of raw materials undergo substantial changes if the crisis and uncertainty hardening ceases to be such and becomes certainty.