Pakistan’s army chief, General Asim Munir, assured investors and partners of robust security measures to safeguard their interests during a minerals conference on Tuesday.
The conference, hosted by Pakistan, aims to attract global investment in the country’s vast natural reserves, estimated to be worth $6 trillion. Delegates from the United States, China, Saudi Arabia, and companies including Barrick Gold and Woods Mackenzie are attending the two-day event.
General Munir emphasized the country’s commitment to protecting foreign investments, stating, “Pakistan’s army will ensure a robust security framework, (and) proactive measures to protect the interests and trust of partners and investors. You can count on Pakistan as a reliable partner.”
The conference takes place amid rising unrest in the mineral-rich southwestern province of Balochistan, where insurgent activities have intensified. This includes a recent incident where insurgents hijacked a train carrying over 400 passengers, including soldiers, in the volatile region.
Balochistan, which borders Iran and Afghanistan, hosts the majority of Pakistan’s mineral reserves, including the Reko Diq project, one of the world’s largest undeveloped copper and gold deposits. The project, jointly owned by Barrick Gold and Pakistan, is estimated to generate $74 billion in free cash flow over 37 years.
Despite the economic potential, ethnic Baloch separatists, who have long fought for a larger share of local resources, oppose foreign investments in the region. They view these investments as an attempt by Islamabad to tighten its control over regional resources.
Some insurgent groups, such as the Baloch Liberation Army, have even called for a separate homeland.
The Baloch Liberation Army claimed responsibility for the train hijacking, which led to the deaths of 23 soldiers, three railway employees, and five passengers, while at least 33 insurgents were killed in the confrontation.
“We welcome international organizations to seek investment opportunities and partnership with us in the development of wider resources,” General Munir added, signaling Pakistan’s readiness to collaborate with global investors despite the ongoing security challenges in the region.
