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.

A high-ranking delegation of the Islamic Emirate, led by Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, arrived on Wednesday in the city of Kazan, the capital of the Republic of Tatarstan, to participate in the 16th Kazan International Economic Forum.

In a statement issued by the deputy PM’s office, the delegation of the Islamic Emirate was given a “warm welcome” at Kazan International Airport by the Deputy Leader of the Republic of Tatarstan.

Afghanistan’s Foreign Ministry says the recent announcement by the US Department of Homeland Security on the suspension of the Temporary Protective Program Status (TPS) program for Afghans was a “positive step” and acknowledgement of an improved situation in Afghanistan.

The Trump administration said Monday it was ending the TPS program that offered deportation protection to thousands of people from Afghanistan.

The Islamic Emirate of Afghanistan (IEA) said Wednesday this move “affirms progress in Afghanistan’s security and economic environment”.

The IEA views this as “a clear recognition of progress made in national security, economy and other areas”.

According to a statement, “Afghanistan is the shared home of all Afghans, and all have the right to free movement.”

The IEA also stated that it is ready to engage in constructive dialogue with the US and other countries regarding the repatriation of Afghans who no longer meet criteria to remain in host countries.

“IEA underscores the importance of bilateral mechanisms and consular services for its citizens, in line with established standards, to prevent complications, address national security concerns, and ensure the dignity and rights of returnees,” the statement read.

The US Department of Homeland Security said Monday it will end the program on July 12.

The TPS program allows migrants to get work permits and temporary reprieve from deportation if the US government determines it is unsafe for them to return to their home countries due to war, natural disaster or other issues.

Over 8,000 Afghans were approved for TPS as of last year, according to federal statistics.

TPS was last extended for Afghanistan in 2023, and it was set to expire in May unless the Trump administration chose to grant another extension.

“This decision is unconscionable and will have long-lasting ripple effects,” AfghanEvac, a group that helps relocate Afghans, said in a post on X early this week.