Antimony deposits discovered in Balochistan, OGDCL, PMDC to launch joint venture for mineral exploration

A significant antimony deposit, a silvery-white, brittle metalloid element with various industrial and historical uses, has been discovered in Balochistan, prompting the Oil and Gas Development Company Limited (OGDCL) and the Pakistan Mineral Development Corporation (PMDC) to devise a plan for exploring and commercialising the resource, The News reported. 

This initiative follows a memorandum of understanding (MoU) signed between the two entities several months ago, aimed at optimising business models for the development and marketing of antimony.

OGDCL, a prominent exploration and production company in the oil and gas sector, is set to become a major player in the mineral sector, following the approval of the company’s board to diversify its investments. 

Under the MoU, the PMDC has agreed to share its historical data on minerals and its expertise, while OGDCL will provide resources to unlock the country’s mineral potential.

Both organisations will equally share profits from business ventures, with a 50:50 partnership. They are preparing to announce a joint venture at the Pakistan Ministerial Investment Forum, scheduled for April 8-9 in Islamabad.

The OGDCL and PMDC have already secured two exploration blocks in Balochistan—one in Killa Abdullah and another in Zhob—where antimony deposits have been identified. 

Additionally, they are working to secure ten mineral-rich blocks in Gilgit-Baltistan, with six containing signs of gold and copper, and four having reserves of nickel, cobalt, and other valuable minerals.