|History and Biodata
CENTAR Ltd engages in gold exploration and mining. The company is based in the United Kingdom. Behind it is Afghan Gold and Minerals Company (AGMC) which is 51 per cent owned by local businessman Sadat Naderi, with the remainder held by a vehicle created by Guernsey-based investment group Centar. The vehicle was created by Ian Hannam, a former JPMorgan banker. The joint venture has already won a gold mining licence in Afghanistan that is close to production, Naderi.(20180813)
A year after the U.S.-based company Centar Ltd. (CEO Bradley Barnett) signed contracts Oct 5, 2018 to mine for gold and copper in Afghanistan, work still hasn’t begun amid fears of insecurity and with allegations of corruption still dogging the company. Watchdog groups have raised concerns about the contracts the company signed a year ago in Washington after a push by President Donald Trump. Initially awarded in 2014, the agreements languished after President Ashraf Ghani, who was elected that same year, launched a broad review of government contracts amid concerns about corruption. At issue in Centar’s case was its partnership with Sadat Naderi, a former minister of urban development. An Afghan law prohibits senior government officials from bidding on mining contracts until five years after they leave government. While the contract was awarded before Naderi was appointed, critics claim that its terms were renegotiated once he was minister to be more favorable to the business.(20191004)
see also: Afghan Gold and Minerals Company (AGMC)
CENTAR Group Afghanistan was established in 2011 by a group of international investors, including EAG’s New Asia Resources Group Co., Ltd., who were attracted to the extraordinary natural resources potential in Afghanistan.
To date (20180813), CENTAR and its subsidiaries have invested over $30 Million to secure mining licenses in the country’s best gold and copper resource areas, as well as to establish two important services companies, Afghan Geological Services (Lab) Co. (modeled after USGA), and Central Asian Mining Services (Drilling) Co., that operate as the only 2 internationally operated and managed service companies in Afghanistan. At present, the company is engaged in USDOD, USAID and USGA contracts in association with the Ministry of Mines, while it awaits the right time to progress its two major concessions known as the Balkhab Copper and Badakshan Gold Licenses.
President Mohammad Ashraf Ghani approved the award of the contracts for the Badakhshan gold mine and Balkhab copper during the meeting of the high economic council. He said the firm has repeatedly showed expression of interest regarding the contracts and are technically eligible and can arrange the required funds for the exploration of the two mines. (20180812)