Letters to the Editor
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In the US
the mining company would pay nothing. Nothing, except like 5c/acre.
The 1876 mining law desperately needs revision.
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Good luck!
Extracting the copper will be a mighty endeavor for the China Metallurgical Group (MCC), which beat out contenders from Russia, the U.K., Canada, and the U.S. to win the bid.
So, perhaps the fourth "great power" to get caught up in the Great Game? Since the 19th Century, Afghanistan has vanquished the British, the Russians, and now the U.S. Do the Chinese really think that they're going to be running a massive open pit mining operation in a country yet to be "pacified"? They can't bribe enough people to make it work.
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What Exactly is China Investing?
"And while the U.S. spends hundreds of billions of dollars fighting its war in Iraq, China spends its currency doing business."
Is that what China is doing? Spending its own currency, that is?
The Financial Times article is unclear. It states the total amount of the investment, and the annual inflow of $400 million, in US dollars. China has a US currency reserve of vast size, burning a hole in its pockets. With the value of the Dollar tanking, and the long-range utility of the dollar unclear, China risks losing much of the value of its reserves.
By spending some of its huge reserves, of OUR currency, China is getting major tangible future streams of natural resources. A pretty good deal for the Chinese, all the way around.
So Andrew, should you rewrite that last sentence? "And while the U.S. spends hundreds of billions of dollars fighting its war in Iraq, China spends US currency doing its own business."
Our dollar: helping to support US wars now and helping to secure the future for China.
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Toppled Taliban?
You write: The U.S. remains mired in an apparently endless struggle against jihad on multiple fronts. But if it hadn't topped the Taliban, would Afghanistan be "safe" for foreign mining companies?
Interesting comment based on today's news:
More than half of Afghanistan is back under Taliban control and the Nato force in the country needs to be doubled in size to cope with the resurgent group, a report by the Senlis Council think-tank says. A study by the group found that the Taliban, enriched by illicit profits from the country's record poppy harvest, had formed de-facto governments in swathes of the southern Pashtun belt. (http://news.independent.co.uk/world/asia/article3182330.ece)
It's worth noting, these people actually have an office in Kabul. (http://www.senliscouncil.net/)
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We're the security contractor
By financing our debt China is effectively paying us to police Afghanistan. E've become the world's security contractor.