Afghan Gold and Minerals Company

Afghan Gold and Minerals Company

"Afghanistan’s gold deposits are more modest. Shahrani said that Soviet-era studies valued Afghanistan’s gold deposits at up to $25 billion. He said the estimate was conservative and added that new gold discoveries have been made. Afghanistan’s gold is found across the country, but the heaviest known deposits are in Badakhshan, Takhar, Bamiyan, Ghazni and Zabul... J.P. Morgan, an international financial services firm, promoted the project and attracted the investors. They invested in an Afghan company called Afghan Gold. The chairman of the company is Sadat Mansoor Naderi, who runs SMN Group (http://www.smninvest.com), one of the largest companies in Afghanistan. "

According to a report from 2011: "Kulczyk Investments has become a partner of JP Morgan, an American banking corporation, and are set to purchase 50 percent of shares in Afghan Gold & Minerals, which holds a concession for gold digging in Afghanistan. Kulczyk Investments first acquired a majority share package in Cetnar, which is itself run by Jan Kulczyk (pictured), while JP Morgan’s head of capital markets, Ian Hannam is the company’s deputy chairman."

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 * Richard Williams