Trump, Ghani agree U.S. can help develop Afghanistan's rare earth minerals

(Reuters) - U.S. President Donald Trump and Afghan President Ashraf Ghani on Thursday backed having companies from the United States develop Afghanistan’s reserves of rare earth minerals, despite formidable obstacles to industrial mining in the country.

The comments, at a meeting in New York, were the latest in a series in which both U.S. officials and the Afghan government have emphasized the potential strategic value of Afghanistan’s vast and largely untapped mineral reserves.

Both leaders also reiterated their commitment to Trump’s new South Asia strategy to defeat terrorism.

But after 16 years in Afghanistan, the U.S. is looking for ways to offset the billions of dollars spent every year in propping up the government in Kabul and mining is increasingly being seen as a way to do that.

“They agreed that such initiatives would help American companies develop materials critical to national security while growing Afghanistan’s economy and creating new jobs in both countries, therefore defraying some of the costs of United States assistance as Afghans become more self-reliant,” the White House said.

The U.S. Geological Survey has estimated the potential value of Afghanistan’s minerals, including gold and gemstones as well as substances like lithium and rare earths vital in modern electronics, at as much as $1 trillion. - More, Reuters

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