Hindustan Copper keen on Afghan mines

State-owned Hindustan Copper Ltd (HCL) has expressed interest in bidding for the development of mines in Afghanistan, given the country's mineral riches that have been estimated at $1 trillion.

According to HCL chairman and managing director, Shakeel Ahmed, Afghanistan is likely to invite bids to develop mines in the country and the company is keen on the opportunity. HCL would be keen to bid for mines in the country particularly copper, he added.

The statement comes within a fortnight of Afghanistan's mines minister Wahidullah Shahrani inviting Indian mining companies, as also global majors like Rio Tinto and BHP Billiton, for developing its resources.

Exuding confidence about the security aspect of the operations, HCL CMD sought to allay fears saying that the Afghanistan government would take all possible steps to provide security to companies interested in working there.

"If China can do it, we can also do it. ...I do hope that since the government is inviting bids, they will do something about security as well," he said.

Several Indian firms, including Essar, had earlier evinced interest in bidding for iron ore mines in the country, when the government invited a global expression of interest (EoI) for its Hajigak iron ore mines, which are estimated to hold 1.8 billion tonnes of reserves.