Pakistan’s mining sector is on track for growth, with revenues expected to increase from $2 billion annually to between $6 billion and $8 billion by 2030, provided the country fully capitalizes on its untapped mineral reserves, according to Shamsuddin A. Shaikh, CEO of National Resources Limited (NRL).
As per news reports, at the Natural Resources & Energy Summit 2025 on Wednesday, Shaikh highlighted the underutilized potential of Pakistan’s mining industry. Despite being located on one of the world’s richest mineral belts, Pakistan contributes just 0.15% to global mineral output and only 2-3% to its national GDP.
Shaikh pointed out that out of 92 known minerals, nearly 90% remain unexplored. “If we fail to act, others will seize the opportunity. This is the time for Pakistani companies and investors to lead through joint ventures and partnerships, creating wealth and jobs at home,” he said.
Several large-scale mining projects are already in progress, including Reko Diq, which is projected to generate $4-5 billion annually, Siah Diq ($1-2 billion), Thar coal expansion ($200 million), and barite, lead, and zinc projects ($100 million). Collectively, these initiatives are expected to contribute billions of dollars in annual revenue over the next five years.
Additionally, further exploration of copper and gold in the Chagai region could bring in an additional $5-10 billion annually after 2030.
Shaikh emphasized that mining should be viewed not only as a revenue-generating activity but also as a means to bring social benefits, particularly in Pakistan’s impoverished regions.
“Mining is not just about extracting minerals; it’s about building communities, eradicating poverty, and transforming neglected areas into engines of growth for Pakistan,” he said.
Hassan R. Muhammadi, Founder and Director of Fidelity Insurance Brokers Pvt Ltd, echoed Shaikh’s remarks, emphasizing that the mining and energy sectors are central to economic growth, energy security, and foreign exchange earnings. He assured investors that the insurance sector stands ready to support both local and foreign investments with tailored risk solutions.
Khurram Ali Khan, CEO of Fidelity Insurance, highlighted the importance of insurance in sustaining large-scale mining projects. “In volatile environments, insurance provides the safety net that keeps projects moving and investors confident,” he said.
Muhammad Sohail Tabba, Chairman of Lucky Cement and Lucky Core Industries, pointed to the broader socio-economic benefits of mining, especially in rural provinces. “Developing these resources, along with investments in education and capacity-building, can bring prosperity, stability, and peace to underserved regions,” he added.
However, experts at the summit cautioned that the sector’s full potential could be undermined without significant investments in governance, regulation, and human resource development.
They stressed that challenges such as inconsistent policies and climate-related risks need to be carefully managed, with innovation and technology playing a key role in addressing these issues.
The summit gathered industry leaders, policymakers, and investors to explore the future of Pakistan’s mining and energy sectors, with a focus on how these industries can serve as central pillars of the country’s economic growth and long-term stability.
