- The official potential of the mining sector of the underlining stimulates economic growth.
- The country produces around 68.52 million metric tonnes of minerals per year.
- The sector supports more than 5,000 operational mines, 50,000 SMEs.
Islamabad: The government led by Prime Minister Shehbaz Sharif is ready to market the country’s market, its landscape rich in minerals distributed at around 600,000 square kilometers in Pakistan Minerals Investment Forum 2025 (PMIF25), The news reported Wednesday.
The forum, which should take place from April 8 to 9, will serve as a leading platform for world stakeholders, foreign investors, main companies, decision -makers, international diplomats, financial organizations and industry experts to explore lucrative opportunities in the country’s mining sector.
“The Pakistan mineral landscape is a sleeping giant with immense economic potential. Thanks to strategic investments, infrastructure improvements and added value, the mining sector can become a key engine of national economic growth,” said a senior official in the mineral department of the Petroleum The Publication.
Despite its enormous potential, the mineral sector currently contributes to around 3.2% to the country’s GDP, exports applied only 0.1% of the world total. However, with increasing exploration, foreign investments and infrastructure improvements, the Pakistan mining industry is ready for significant expansion.
“With 92 known minerals, 52 of which are commercially operated, Pakistan produces around 68.52 million metric tonnes of minerals per year.
Recognizing the potential of the mining sector, the government finalizes the framework for the harmonization of national minerals 2025, a global policy aimed at attracting investment and formalization regulations at the provincial and national levels. The framework will provide incentives to local and foreign investors, will rationalize mining regulations and will facilitate public-private partnerships.
Some of the country’s most notable mineral reserves include the second largest salt mines in the world, the fifth largest copper and gold deposit and large coal reserves. In addition, the country has large amounts of bauxite, gypsum and precious stones, such as Ruby, Topaz and Emerald, which offer considerable export potential.
The Pakistan mining sector is increasingly attracting foreign investments, global companies looking at the country’s unexploited mineral reserves. The copper and gold Reko Diq project, located in the Chagai district of Balutchistan, is the largest reserve of unusual copper in the world and is an important step for the mining ambitions of Pakistan.
The project, relaunched by Barrick Gold of Canada, should start producing copper and gold by 2028, with an initial investment of $ 5.5 billion. According to Mark Bristow, CEO of Barrick Gold, which has a 50% stake in the project, the reserve should generate around $ 74 billion in cash flows available in the next 37 years, based on long -term consensus prices.
The mine is expected to generate $ 2.8 billion in annual exports, create thousands of jobs and transform the local economy. A planned expansion will further increase copper production to 400,000 tonnes and gold production to 500,000 ounces per year, with an additional investment of $ 3.5 billion.
Under an intergovernmental transaction agreement, the federal firm approved the sale of a 15% stake in the Reko Diq project in Saudi Arabia. The Saudi mining company Manara Minerals will buy a 15% stake in the mining project, potentially involving an investment of $ 1 billion.
The official also said: “Pakistan’s commitment to the development of infrastructure is crucial to unlock the full potential of the mining industry. Hubs”.
The logistics of the Reko Diq mine would be managed by a railway which is established in partnership with Pakistan Railways. The railways would essentially involve moving mining supplies to the Karachi mine and finally exporting the copper concentrate and the gold from the mine to Karachi for export.
Beyond Reko Diq, Balutchistan holds more than 40 minerals, including oil, gas, uranium and coal, with the potential to supply the energy and industrial needs of Pakistan for a century. Efforts are also underway to establish refineries, which will allow Pakistan to go up the value chain and reduce dependence on exports of raw materials.