Taliban offers US investors access to mineral wealth
Afghanistan's Taliban government has offered American investors access to the country's mineral resources, seeking to reset ties with Washington and push for sanctions relief and the release of frozen Afghan assets. The outreach comes five years after the Taliban returned to power following the withdrawal of US-led NATO forces.
Taliban Foreign Minister Amir Khan Muttaqi told the Financial Times that Afghanistan was "absolutely" open to US investment across sectors including mining, infrastructure, agriculture and trade. "Relations between Afghanistan and the United States should not be assessed through the lens of the past 20 years of war, but rather on the basis of future co-operation," Muttaqi said, adding that "our economic policy is open."
Muttaqi did not say whether the offer had been made directly to the White House. The overture comes as US President Donald Trump has previously described the withdrawal and collapse of the US-backed Afghan government as "the most embarrassing moment in the history of our country."
Mineral wealth and foreign interest
Afghanistan is estimated to hold at least $1 trillion in mineral resources, according to geological surveys conducted by the US and the former western-backed Afghan government. The deposits include copper, iron ore, niobium, cobalt, gold and lithium, much of which remains undeveloped after decades of conflict.
The Taliban has sought to attract foreign capital since taking control of the country. According to the Financial Times, it has announced more than $7 billion in mining investments since 2021 involving countries including China and Iran, covering resources such as gold, gemstones and chromite.
Beyond the US overture, the Taliban has seen increased engagement from several countries. Russia formally recognised the Taliban government last year and signed a military cooperation agreement with Afghanistan in May. The EU hosted Taliban officials in Brussels in June for talks on migrant returns. China, India, Iran, Qatar and several Central Asian countries have also increased contact with Taliban officials.
Sanctions and frozen assets
Kabul hopes that greater diplomatic engagement will lead to sanctions being lifted and Afghan reserves held overseas being released. Muttaqi has called for sanctions to be lifted and for frozen Afghan funds to be returned, saying, "No individual, government or institution should use the assets of the Afghan people as a tool of political pressure."
Afghanistan's central bank estimates that $7 billion in US reserves remain outside the country. In 2022, Washington transferred $3.5 billion to a Switzerland-based "Afghan Fund". About $3.5 billion of Afghan central bank assets are held in the United States.
Foreign diplomats said potential investors would also have to navigate UN and western sanctions targeting senior Taliban officials, including Muttaqi. They warned that increased financial flows could strengthen the Taliban and reduce pressure for policy changes.
Human rights concerns
Despite the economic overtures, Afghanistan remains one of the world's poorest countries, with more than 14 million people, about a third of the population, facing acute hunger. The Taliban has imposed severe restrictions on women and girls in education, business and public life. Last year, the International Criminal Court issued an arrest warrant for Taliban leader Hibatullah Akhundzada over alleged gender-based persecution.
UN experts warned this month that there should be no moves to normalise the Taliban without measurable progress on human rights, particularly for women and girls.
In a related development, President Trump has proposed returning Bagram air base to US control, but the Taliban rejected it. Muttaqi said the Taliban had made the area around Bagram "vibrant and attractive."