The government is intensifying efforts to tap into Pakistan’s vast mineral wealth, which is estimated to be worth around $8 trillion. These efforts are aimed at attracting both local and foreign investors, with a series of mineral development projects already in motion, The Express Tribune reported.
A mineral conference is scheduled for next month to highlight the country’s mineral resources and foster investment opportunities.
At a recent briefing to the federal cabinet, officials revealed that Pakistan’s mineral sector has an estimated value of $8 trillion, up from previous estimates of $6 trillion.
The cabinet was briefed on the significant mineral reserves across various regions, with a focus on Balochistan, where several large-scale projects are already underway.
The mineral sector currently provides employment to 300,000 people and contributes about 1% to the country’s GDP. Additionally, community development programs and skill development initiatives are being implemented to benefit local populations.
Among the key projects, the Reko Diq project, is expected to begin operations by 2028. Revived through a partnership with Canada’s Barrick Gold, the project is expected to generate $74 billion in free cash flow over 37 years.
In addition to Reko Diq, Pakistan has identified five other mineral projects for potential UAE investment, including copper blocks in Chagai and smelting operations. A planned rail network between Gwadar and Chagai will further improve access to these mineral-rich areas.
The country is also advancing the Siah Dik copper mining project in Balochistan, awarded to China Metallurgical Group Corporation (CMGC), which operates the Saindak gold and copper project.
This project, designated as a private sector Export Processing Zone (EPZ), will focus on copper concentrate mining and processing, supported by a joint venture between CMGC and local partners.
