Afghanistan on 28 November 2011 awarded mining rights for three of the four Hajigak blocks located at the central Bamyan province to an Indian consortium led by state-run Steel Authority of India (SAIL). The four blocks in Hajigak are estimated to hold more than 1.8 billion tonnes of iron ore with 62% ferrous content.
This is the first time an Indian consortium successfully bid for a large mine, reversing a depressing trend of the past where Indian consortiums had failed to acquire overseas resources, losing out mainly to Chinese groups.
A seven-member consortium of Indian companies led by Steel Authority of India bagged the rights to mine iron ore at Hajigak in Afghanistan. The Indian consortium, called AFISCO for Afghan Iron and Steel Consortium, includes three state-run firms - SAIL, National Mineral Development Corporation and Rashtriya Ispat Nigam. It also includes four private steelmakers - JSW Steel, JSW Ispat, Jindal Steel and Power and Monnet Ispat. While SAIL is the largest stakeholder with a 20% holding in the consortium, RINL and NMDC hold 18% each. JSW Steel and Jindal Steel have 16% each. JSW Ispat owns 8% stake, while Monnet Ispat has 4%.
The consortium will develop the mines, build a 7-million tonne steel plant and an 800 mw power plant. The Indian syndicate will be allotted coking coal from Shabasha for steelmaking.
The rights to a fourth block at the deposit had been won by Canada's Kilo Goldmines Ltd.
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