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Afghanistan, India Sign Framework Deal On Ore Investments

A family walks near an open cast mine in the Nangarhar region of eastern Afghanistan.
KABUL -- Afghan Mines Minister Wahidullah Shahrani says Kabul and New Delhi have signed a legal framework to allow Indian investors to participate in developing his country's ore industry.

Shahrani told a press conference in Kabul that the agreement allows Indian state and private companies to extract iron ore and invest in future steel production in Afghanistan.

Under the agreement, New Delhi is to encourage companies both to invest and to provide vocational training for Afghan workers in ore extraction and steel technologies.

Indian Steel Minister Shri Beni Prasad Verma told the joint press conference that India is also interested in investing in natural gas and oil in Afghanistan.

India is among the world's largest steel producers.

According to the Afghan government, the country's mineral resources are worth up to $3 trillion.