Latest news with #PakistanMineralsInvestmentForum2025
India.com
22-05-2025
- Business
- India.com
JACKPOT in Balochistan, Pakistan sidelined..., dangerous plan of US, bad news for China due to..., good news for India because...
(File) Pakistan Mineral Reserves: The United States might be planning to replace China in the Pakistan's Balochistan to get its hands on the vast mineral reserves in the restive region, policy experts have claimed. The speculations stem from a recent visit of Eric Meyer, the head of US' Bureau of South and Central Asian Affairs, to Pakistan. Top US official visits Pakistan Meyer's visit is being viewed as a major turning point in US-Pakistan relations, and its believed that Washington may be willing to turn a blind eye to Islamabad's history of supporting and harbouring banned terror groups, as the Donald Trump administration wants a major piece of Pakistan's vast untapped mineral wealth, especially in the restive Balochistan region. On April 9, 2025, a US delegation led by Eric Meyer visited Pakistan to reportedly explore new avenues of cooperation in the mineral sector. During the visit, the senior diplomat met Pakistan Army Chief Field Marshal Asim Munir in Rawalpindi, and their talks focused on tapping Pakistan's mineral resources, which both parties agreed would be a mutually beneficial arrangement. Munir and Meyer also spoke on other key topics, including partnerships between businesses, government and society, according to media reports. Eric Meyer also met Pakistan Prime Minister Shehbaz Sharif, who urged the US to invest in Pakistan, asserting that both could reap significant economic benefits by tapping Pakistan's mineral reserves, which are estimated to be worth over $6 trillion. The US delegation also attended the Pakistan Minerals Investment Forum 2025 in Islamabad, where investors from nations like US, China, Saudi Arabia and the European Union, were also present. Why US wants Pakistan's minerals? The US is the largest consumer of rare earth minerals, and with China controlling a major chunk of world's rare earth element deposits, Washington is looking at other places where large reserves remain untapped. During his Pakistan visit, Eric Meyers had said that these minerals are critical for US industries, especially its defense and electric vehicle manufacturers. US President Donald Trump has often talked about securing America's mineral future as a strategic imperative, and as such, Pakistan, which has vast untapped resources of copper, gold, lithium, and other rare elements, could be on the US radar as a potential partner. Experts note that for the US, the cooperation in mineral mining with Pakistan is geostrategic in nature, apart from its economic benefits. The China factor As noted earlier, China leads the global supply of critical minerals, boasting an estimated 69% share in rare earth element mining and 44% of copper smelting, worldwide. Additionally, China and Pakistan are strategic allies and Beijing essentially owns the entire Balochistan region with its CPEC investment, which has reinvigorated the Baloch independence movement. Meanwhile, the US is trying to beyond China for securing rare earth minerals, striking global deals to diversify and secure access to vital mines from Ukraine and the Democratic Republic of Congo to Indonesia, Uzbekistan, Peru and beyond. As Washington redraws the global mineral supply chain map, its expansion will not be complete without South Asian countries like India and Pakistan, that have vast mineral resources. How the US move benefits India? If the US manages to replace China in Balochistan, it would provide India with a trusted ally in the region which could lead to New Delhi having a share of the potential benefits. Additionally, if Balochistan separates from Pakistan, then India can become a direct partner of the US in the region.
India.com
29-04-2025
- Business
- India.com
Gold reserves, precious stones, and minerals: Where are Pakistan's 'trillion-dollar' resources hidden?
Gold reserves, precious stones, and minerals: Where are Pakistan's 'trillion-dollar' resources hidden? Pakistan's resources: In the dry and dusty Chagai region of Pakistan's Balochistan province, some of the world's most valuable mineral resources are hidden. These include large amounts of copper and gold. Pakistan's political and military leaders believe these resources can attract billions of dollars in investment. After the discoveries at Reko Diq and Saindak, there are now new claims of more mineral findings in Chagai. A private company, National Resources Limited (NRL), which has the contract for mineral exploration in Chagai, says they have found new reserves of gold and copper in the area. At the 'Pakistan Minerals Investment Forum 2025' held last week, NRL shared that signs of minerals have been found in the 'Tang Ghor' area of Chagai. NRL's head, Muhammad Ali Tabba, said international experts and investors will also join this big project. During the same event, Mari Energies claimed they discovered new gas and oil reserves in North Waziristan, located in Khyber Pakhtunkhwa. According to them, this is the fourth discovery in that area. In testing, it produced 70 million cubic feet of gas and 310 barrels of condensate daily. Over the two-day conference, Pakistani and Turkish state companies signed an agreement to work together for offshore oil and gas exploration. Under this agreement, Pakistan's Mari Energies, OGDCL, and PPL will work with Turkey's state company to explore the sea areas. Officials say these resources stayed untapped because of administrative problems, security issues, and lack of focus by political leaders. However, last week, the government once again promised to use these resources to boost Pakistan's economy. The 'Minerals Conference' in Islamabad saw participation from over twenty countries, including the US, China, and Saudi Arabia. Investors and delegates attended to explore Pakistan's mineral sector, which the government is calling a 'trillion-dollar sector'. The aim of the conference was to present Pakistan as an important global player, especially in critical minerals. Senior government and military leaders called the conference a 'milestone' for the economy. But critics say that this is not the first time Pakistan has promised to turn 'stones into gold'. Before discussing if these promises will happen, it's important to understand what minerals Pakistan has and where they are found. Where are minerals found in Pakistan? Pakistan divides minerals into different categories. Strategic minerals include copper, gold, lithium, rare earth minerals, and chromite. These are used in electronics, defense, and green technology, making them highly valuable for security and investment. Energy minerals like coal and uranium are important for electricity and nuclear programs. Industrial minerals such as salt, limestone, gypsum, and barite are needed for construction and farming. Precious stones are small but valuable and help earn money from exports. Balochistan: The mineral hub Balochistan, though troubled, holds large and important mineral resources, because of this, it is often called 'Pakistan's mineral center'. In the 1970s, the Geological Survey of Pakistan (GSP) discovered copper and gold at Reko Diq and Saindak. Several decades ago, GSP also found signs of gold reserves in Chagai. However, the project got stuck because of legal and economic problems. Now, under Canadian company Barrick Gold's leadership, work has started again to extract minerals from the area. In late 2022, a new agreement was signed. Under it, the Balochistan government will have a 25% share, the federal government 25%, and Barrick Gold 50%. Barrick Gold promised to invest in the project and start production by the end of this decade. Officials now hope that production will start by 2028. According to local media, Saudi company Manara Minerals may also invest here. Barrick Gold's CEO, Mark Bristow, said that after the second phase of Reko Diq is complete, the site could produce 400,000 tons of copper every year. He also said the growing global need for copper, for electric vehicles, green energy, and electricity, can bring great economic benefits to Pakistan. The Saindak project, which started after copper and gold were discovered there in 1973, was Pakistan's first major mining project. It is estimated that Saindak has several hundred million tons of raw material. A Chinese company currently operates the project. Balochistan not only has copper and gold but also many other minerals. In the Muslim Bagh region of Qila Saifullah, chromite has been mined for centuries. Chromite is important for making stainless steel. Recently, claims have been made about the presence of lithium and rare earth minerals in Chagai and Khuzdar. The government considers these minerals critical for the future. In the 1960s, GSP found large reserves of barite in Khuzdar. Barite is used in oil and gas drilling. The same rock formations also have fluorite deposits near Kalat and Mastung. In Lasbela, Pakistan's first modern lead and zinc mine is located, discovered by GSP and developed with Chinese support. Coal is also found in Sore Range-Degari, Dukki, Mach, and Khost areas of Balochistan. Though these coal reserves are smaller and less powerful than those in Punjab and Sindh, they have supported local industries and railways for decades. They also provide jobs to thousands of workers. However, many local people complain that they do not get a fair share of the wealth and accuse the authorities of hiding details about the projects. These complaints have led to unrest and anger in Balochistan. Precious stones in Khyber Pakhtunkhwa At the minerals conference held last year, the government also claimed that large reserves of gas and minerals have been found in Khyber Pakhtunkhwa. Mining is expected to start soon. However, a new 'Mines and Minerals Bill' about this province created controversy. A scheduled briefing on the bill was postponed on the orders of former Prime Minister Imran Khan. Both the ruling Pakistan Tehreek-e-Insaf (PTI) and opposition parties have raised concerns about this bill. Swat, a district in Khyber Pakhtunkhwa, is famous around the world for its emeralds. These beautiful green stones are highly valued in jewelry. Even today, locals search the riverbeds to find shining emeralds.
Express Tribune
27-04-2025
- Business
- Express Tribune
Naqvi assures investors of Pakistan's safety
PCB Chairman Mohsin Naqvi is determined to give tough time to BCCI and India for treating Pak Cricket unfairly. PHOTO: AFP Interior Minister Mohsin Naqvi has assured foreign investors that Pakistan remains a safe destination for investment and emphasized that the government is committed to protecting them at all costs. According to a press release issued by the ministry on Sunday, Naqvi met with a delegation of foreign investors in Lahore to discuss measures for ensuring their security. The minister acknowledged the delegation's concerns and assured them that the government would take necessary actions to address these issues. "Pakistan is a safe country for all types of investments," Naqvi said. "The protection of investors is a top priority for our government, and we will fulfil our responsibility of safeguarding them at all costs." He further stated that the government has already taken proactive steps to protect investors and has initiated "strict action" against violent miscreants. "Action is being taken against these individuals in accordance with the law," he said, adding, "A strategy has been developed to prevent such incidents from in the future". The press release, however, did not specify any particular incident. While Pakistan has actively sought to tap into its natural resources and encouraged foreign investment across various sectors, persistent security challenges in Balochistan and Khyber-Pakhtunkhwa continue to pose serious risks. In recent years, several attacks have targeted foreign nationals. Earlier this month, Chief of Army Staff (COAS) General Syed Asim Munir also pledged a comprehensive security framework to protect the interests and boost the confidence of Pakistan's partners and investors in Balochistan. The army chief made these remarks while addressing the Pakistan Minerals Investment Forum 2025, a two-day event promoting mining and mineral investment opportunities across all four provinces, Azad Kashmir, and Gilgit-Baltistan.
Time of India
26-04-2025
- Business
- Time of India
From bankruptcy to buried treasure: Pakistan's new gold rush (and missing bullets)
Live Events Even before Tuesday's horrific news in Pahalgam, Pakistan was in the news. Teetering on the abyss of bankruptcy with one foot on a banana peel and a censorious IMF begrudgingly providing it with a safety net, the country has overnight discovered a bonanza of untold April 8, Prime Minister Shehbaz Sharif addressed the two-day Pakistan Minerals Investment Forum 2025, which was attended by almost 300 international delegates. He revealed that his country has untapped mineral resources of rare earths, gemstones, copper and gold, the extraction of which would bring 'trillions of dollars' into the nation's coffers, which currently are the repository of a large number of cobwebs and the cadaver of a long-expired spider that had succumbed to that Pakistan has natural resources to become a major player in the global mining industry , Sharif referred to the discovery of industrial minerals and gems at the Reko Diq site in Balochistan, and copper and gold deposits in other parts of the country. Inviting investors to tap this underground treasure trove, he expressed confidence that the country would get out of its chronic debt trap 'if we all come together and act with determination'.Speaking at the same venue, deputy PM Ishaq Dar identified Pakistan as 'strategically positioned to emerge as a global mining powerhouse, which could reshape global supply chains and attract foreign investment through investor-friendly initiatives'. He assured the audience that all stakeholders' interests would be considered while developing the heaven-sent reprieve comes not a moment too soon for the nation, the economy of which was booming, literally, with its long-term major export of jihad, the latest in Kashmir, having boomeranged back on itself in a series of deadly bomb blasts, perpetrated by those who were all dressed up to kill, but nowhere to go for gainful other local enterprise of kidnapping for ransom had also hit a roadblock when it transpired that the kidnappees were being traded like stocks and shares by successive abductors, causing an inevitable market crash thanks to overvaluations which led to a rampaging bear a brief while, a spark of hope had been kindled by the unlikely source of the tourism department that launched a campaign to promote the site of the ancient city of Mohenjo-daro. Built in 2500 BCE Mohenjo-daro - which in Urdu means 'Mound of the Dead Men', was one of the earliest urban centres in the world, along with those in ancient Egypt, Mesopotamia and Minoan the excitement caused by this tourism plan turned out to be a flash in the pan. On closer inspection, it was discovered that what mistakenly had been assumed to be the relics of Mohenjo-daro were, in fact, the purlieus of downtown give it credit, the National Tourism Board did come up with a Plan B - to showcase the country as the ideal destination for those in search of new extreme adventure sports, having got bored with such humdrum diversions as bungee jumping and as promising as this idea was, being backed by exhortative advertising - 'Come to where the real action is! Come and have a blast in Balochistan where every day is an IED, Improvised Explosive Day!' - it was overtaken by events when mass deportations and detentions by the Trump regime made the US outrank Pakistan as a high-risk destination for those in search of thrills and were looking decidedly bleak when the headline-making news broke about the country's hitherto unknown and unsuspected mineral riches waiting to be salvaged from the obscurity of earthly depths, and brought into the light of bounteous day. Admittedly, all this salvaging was going to take time. Meanwhile, to tide things over, a large cache of ready-to-market lead had been provenance of the metal was something of a mystery, made enigmatic in that, by some unaccountable coincidence, the army's arsenal had been rendered bereft of all its bullets. They had vanished without a trace.
Asia Times
24-04-2025
- Business
- Asia Times
Balochistan gold rush promises Pakistan mining boom
At the Pakistan Minerals Investment Forum 2025, Muhammad Ali Tabba, chairman of National Resources Limited (NRL) and CEO of Lucky Cement, unveiled what he claimed are hitherto unknown substantial gold and copper reserves in Balochistan's Chagai district. Announced in the company of Pakistan's Prime Minister Shehbaz Sharif and Army Chief General Muhammad Asim Munir, Tabba's claimed discovery signals a potential turning point for Pakistan's laggard mining industry at a time global gold prices are touching record highs of over US$3,400 per ounce. NRL, a wholly Pakistani-owned firm under the umbrella of Fatima Fertilizer, Liberty Mills, and Lucky Cement, obtained an exploration permit in Chagai in October 2023. Within 18 months, it claims to have pinpointed 16 mineral-rich locations across a 500-square-kilometer expanse, with drilling at the Tang Kor, Chagai site reportedly confirming significant deposits. Balochistan, Pakistan's largest province by area, is a geological treasure trove. The Chagai region lies within the Tethyan Magmatic Arc, a mineral-laden zone spanning Europe to Southeast Asia renowned for its copper and gold wealth. The nearby Reko Diq mine holds an estimated 5.9 billion tonnes of ore, grading 0.41% copper and 0.22 grams per tonne of gold, ranking it among the world's largest untapped reserves. NRL's Tang Kor website entry complements this, with early drilling showing copper concentrations from 0.23% to 0.48%, along with traces of gold and silver. Thirteen diamond drill holes totaling 3,517 meters all reportedly struck mineralized zones, underscoring the deposit's vast potential. Pakistan faces a dire economic situation with shrinking foreign currency reserves, mounting debt and import dependency, making this discovery a potential lifeline. The nation's mineral wealth, valued at $6 trillion, has been largely untapped. NRL's find, alongside developments like Reko Diq (where Barrick Gold targets 200,000 tonnes of copper and 250,000 ounces of gold yearly by 2028), could pump billions into Pakistan's economy and Balochistan's development. At the same time, the golden discovery is sparking age-old concerns about fair revenue allocation for and ecological impact on Balochistan, one of Pakistan's most undeveloped and historically restive regions. Ethnic Baloch insurgent groups frequently target resource and infrastructure investments in the province, in part on the grounds that they disproportionately serve Islamabad and its allied foreign interests, including Chinese companies, rather than local communities. NRL's partnerships with the Balochistan government and the Special Investment Facilitation Council (SIFC), plus a $100 million exploration budget for two new licenses, thus reflect a determined effort to capitalize on this opportunity. Balochistan's resource riches stand in stark contrast to its poverty. Supplying 35–45% of Pakistan's natural gas and brimming with minerals, the province still ranks lowest on basic human development metrics. Around 85% of the province's residents lack clean water, 75% have no electricity and 63% live in poverty. However, these newly discovered troves could shift Balochistan's dire narrative if handled prudently and equitably. The company's stated commitment to creating local jobs and community engagement aims, at least rhetorically, to help address these gaps. There is precedent to be doubtful about corporate vows of trickle-down. For instance, the Saindak mine, active since the 1970s, yields 15,800 tonnes of copper, 1.5 tonnes of gold and 2.8 tonnes of silver annually, yet benefits rarely reach locals. The economic potential is immense. Reko Diq could generate $70 billion in free cash flow and $90 billion in operating cash flow over decades, according to company estimates. Should NRL's deposits match this scale, their extraction could elevate GDP, create substantial well-paying jobs and fund badly needed Balochistan infrastructure. A homegrown player like NRL could keep more profits in-country, unlike past foreign-led ventures. Its agreements with the Oil and Gas Development Company (OGDC) and efforts to draw investors point to a scalable strategy. Yet, optimism must be tempered. Past projects like Saindak and Reko Diq have faced disputes over revenue splits and local neglect, with Balochistan once receiving just 2% of Saindak's earnings. For NRL's success, fair policies—guaranteeing royalties, local employment and investments in health, education and water—are essential. Frameworks like the Balochistan Development Plan and the China-Pakistan Economic Corridor (CPEC) Gwadar Port offer a blueprint but fair implementation will be critical. The economic upside, of course, comes with environmental trade-offs. Balochistan's climate, with summers hitting 53°C and winters plunging to -20°C in higher elevations, is as harsh as it is fragile. Mining demands substantial water and energy, both scarce resources in Balochistan. Saindak has faced backlash for depleting water and polluting groundwater with tailings and residues. Tang Kor's drilling and potential processing could worsen these problems, especially if NRL opts for downstream operations that could pollute rivers, hurt crops and aggravate health crises. Extracting copper and gold generates significant emissions—mining contributes 4–7% of global greenhouse gases, with copper production emitting roughly 2.5 tonnes of CO2 per tonne. At Reko Diq's scale, NRL's output could add hundreds of thousands of tonnes of emissions yearly, straining a region already hit by climate shifts like erratic rains and desertification. Dust from mining could also harm air quality and public health. Balochistan's climate is already under siege, and mining could amplify the woes. The province has seen a rise in extreme weather—floods in 2022 devastated crops and displaced thousands, while prolonged droughts have shrunk arable land. Chagai's arid ecosystem, home to sparse vegetation and rare species like the Balochistan bear, faces disruption from mining sprawl. Water-intensive operations risk drying up springs and wells, vital for nomadic herders and small farmers. Meanwhile, heavy machinery and blasting could destabilize the region's rugged terrain, increasing landslide risks in a province prone to seismic activity. Without careful and studied planning, NRL's projects could tip Balochistan's delicate environmental balance toward collapse. On the flip side, copper is vital for green tech like wind turbines and electric vehicles, potentially aiding global decarbonization. NRL's local control could enforce tougher environmental rules than foreign firms have historically followed. Solar energy or water recycling, used in some advanced mines, might mitigate the damage. The $100 million exploration fund could be deployed to support sustainability research, balancing profit with preservation. If NRL invests even a minor share donation into Balochistan's Climate Resilience Fund, it could build trust and social license among Chaghi's indigenous communities. NRL's Chagai find is a potential defining moment for Pakistan and Balochistan, but a positive and equitable outcome depends on learning from the past. The discovery could ease import reliance, shore up foreign currency reserves and lift Balochistan from poverty if substantial profits stay local. The 2025 Pakistan Minerals Investment Forum, where global eyes were suddenly fixed on Chagai, highlights the stakes. Saudi Arabia's possible 15% Reko Diq stake and Barrick's $2 billion investment suggest Pakistan's mineral wealth is prime for profitable extraction. Ultimately, NRL's gold and copper reserves are more than a geological windfall – they are crucial for Pakistan's pursuit of equitable and lasting economic progress. For Balochistan, the discovery could herald a future where riches benefit its people and environment, not just local elites or outsiders. The task ahead for Pakistan and Balochistan is to ensure this hope doesn't fade into another tale of squandered promise.
