QUETTA: Pakistan’s mining sector has received a fresh investment boost as the $200 million Khuzdar Barite, Lead and Zinc (BLZ) project in Balochistan moves forward following the resolution of longstanding issues with support from the Special Investment Facilitation Council (SIFC).
The project, being developed in Khuzdar by Pakistan Petroleum Limited (PPL) and Bolan Mining Enterprises (BME), holds an estimated 69 million tonnes of mineral resources and has a projected mine life of about 34 years.
The development marks a significant step for Pakistan’s mineral sector as the government seeks to attract investment, develop natural resources and expand economic activity in mineral-rich Balochistan.
SIFC Helps Clear Hurdles for Khuzdar Mining Project
According to details released about the project, SIFC facilitated efforts to resolve longstanding issues surrounding the BLZ development, helping pave the way for an investment of approximately $200 million.
A key breakthrough came after lease-related issues were resolved and an operating agreement was completed, allowing the project to move towards development and operations.
The Khuzdar BLZ project is considered one of Pakistan’s major mineral development ventures and has been under consideration and development for an extended period.
69 Million Tonnes of Mineral Resources
The project is estimated to contain around 69 million tonnes of barite, lead and zinc resources, providing it with an expected operational life of approximately 34 years.
Once developed at scale, the project is expected to generate annual revenue of between $150 million and $230 million, according to the information provided about the development.
It is also expected to stimulate economic activity in Balochistan through mining operations and associated business activity.
Pakistan Seeks More Investment in Mining Sector
Pakistan possesses substantial deposits of copper, gold, zinc, lead, barite and other minerals, making the sector an important part of efforts to attract domestic and international investment.
Authorities have increasingly focused on addressing regulatory, infrastructure and investment hurdles that have historically slowed the development of large mineral projects.
The progress on the Khuzdar project comes as Pakistan seeks to turn its mineral resources into a larger source of investment, exports and economic activity.
SIFC has been facilitating investment initiatives across mining and other priority sectors, with the government seeking to accelerate projects by addressing regulatory and administrative bottlenecks.
The advancement of the $200 million Khuzdar BLZ project adds to ongoing efforts to expand Pakistan’s mining industry and attract investment into the country’s largely untapped mineral resources.
Also Read: SIFC Tasked With Accelerating Regulatory Reforms to Improve Ease of Doing Business
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