Iranian media have reported that the country is investing $5 billion in Afghanistan’s iron mines.Alireza Bikdeli, acting ambassador of Iran in Kabul, stated that Afghanistan’s rich mineral resources present an opportunity for cooperation between the two neighboring countries.He added that this investment would enhance Iran’s position in global steel production.Fars News Agency reported that, given Iran’s increasing need for raw materials in its mining industries, the investment is expected to yield up to sixfold returns.Iran imports each ton of Afghan iron mine at a price of $100 and exports it as steel at a final price of $600.According to the latest data from Afghanistan’s Ministry of Mines, Iran has invested $2.3 billion in the country’s mining sector, including iron, over the past several years.Abdul Nasir Reshtia, the executive director of the Union of Iron Smelting Factories, said: “If the country’s mines are extracted in a technical and professional manner, and all processing and production stages are carried out domestically, we will witness significant economic effectiveness.”Reports indicate that the Iran-Afghanistan cooperation agreement on iron ore mining is a five-year contract, expected to generate $1.2 billion in annual profit for Iran.Over the past three years, Iran-Afghanistan relations have expanded, with bilateral trade reaching $4 billion annually.Meanwhile, Iranian officials have granted their border provinces the authority to fully utilize all resources to enhance relations with Afghanistan’s border provinces, particularly in the economic and trade sectors.The post Iran plans to invest $5 billion in Afghanistan’s iron mines first appeared on TINS News | Afghanistan News.