The Council of Ministers gave preliminary approval to the Law of Mines in its Monday's session, a presidential statement said Saturday.
The approval is seen as an important step for Afghanistan to attract large investors in the mining sector, billed as one of the country's most important source of revenue that could help put Afghanistan on the path to financial self-sufficiency.
"Approval of this law will provide more opportunities to identify and extract mines in the country and ensures national and foreign investments in this sector," Ministry of Mines Senior Advisor Asad Zamir told TOLOnews on Sunday.
Approval of the law was stalled previously because the Council of Ministers thought the law gave foreign companies too much space to exploit Afghan natural resources.
Afghan analyst have welcomed the decision and urged the government to vigorously implement the law.
"We welcome this decision and urge the government to fully enforce this law," economic affairs analyst Hamidullah Farooqi said Sunday.
The Ministry of Mines has identified 1,400 mines in different parts of the country. It is expected that the incomes from mines sector will cover nearly half of the Afghan government budget by 2016.