Islamabad: The government is ramping up efforts to unlock Pakistan’s vast mineral wealth, estimated at USD 8 trillion, by attracting local and foreign investment. As part of this initiative, a mineral conference is scheduled for next month to showcase the country’s untapped resources and foster investment opportunities, according to The Express Tribune.
During a recent federal cabinet briefing, officials revealed that Pakistan’s estimated mineral wealth has surged from USD 6 trillion to USD 8 trillion. The briefing highlighted significant reserves across various regions, particularly in Balochistan, where large-scale mineral projects are already underway.
The mining sector currently employs around 300,000 people and contributes approximately 1% to the country’s GDP. To further develop the sector, the government is implementing community development programs and skill enhancement initiatives to benefit local populations.
Among the key projects, the Reko Diq copper and gold project—revived in partnership with Canada’s Barrick Gold—is expected to start operations by 2028, with an anticipated USD 74 billion in free cash flow over 37 years.
In addition to Reko Diq, Pakistan has identified five other mineral projects for potential investment from the UAE, including copper blocks in Chagai and smelting operations. A planned rail network between Gwadar and Chagai aims to improve logistical 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 already operates the Saindak gold and copper project. This venture, designated as a private-sector Export Processing Zone (EPZ), will focus on copper concentrate mining and processing.
With the upcoming mineral conference, the government aims to highlight these projects and attract substantial investment, positioning Pakistan as a major player in the global mining industry.
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