(Zartaj Chaudhary)
Beneath Pakistan’s rugged landscapes lies an untapped treasure trove that could redefine its economic future. Emerging from a period of relative dormancy, the nation’s mineral sector is poised to trigger an economic renaissance. From the copper and gold wealth of Reko Diq, showcased at the Pakistan Minerals Summit 2023, to the strategic reserves of rare earth elements identified through extensive geological surveys, Pakistan holds a geological jackpot. Bolstered by the Foreign Investment Promotion and Protection Act 2022, along with initiatives like the Special Investment Facilitation Council (SIFC) and the upcoming Pakistan Minerals Investment Forum 2025, the country is actively cultivating a fertile ground for global investment. Rather than simply holding untapped resources, Pakistan is strategically mining for opportunities, aiming to become a pivotal hub in the new era of mineral economics, fueling global industries and securing national prosperity.
Driven by a strategic realignment of priorities, investment incentives, and the compelling pull of global demand, Pakistan is embarking on a determined journey to unlock its immense mineral wealth. For too long, a complex web of bureaucratic delays, security considerations, and insufficient infrastructure cast a shadow over the nation’s estimated $6 trillion in mineral reserves, leaving its vast potential largely dormant. However, a decisive paradigm shift is now taking hold through the investor-friendly platform of the SIFC. The tangible success of the Reko Diq project, a monumental $7 billion copper-gold venture, serves as a powerful testament to Pakistan’s growing capacity to attract substantial foreign investment, with the involvement of industry titans like Barrick Gold significantly bolstering global confidence in the nation’s mineral sector. Furthermore, state-owned enterprises such as OGDCL are strategically diversifying their portfolios to include mineral extraction, injecting further momentum and expertise into the industry.
Building on the success of the Pakistan Minerals Summit 2023, the Pakistan Minerals Investment Forum (PMIF) 2025 is set to redefine the nation’s mining landscape on April 8-9 in Islamabad. Organized by OGDCL under the patronage of SIFC, PMIF will unite global mining giants, policymakers, and investors to explore Pakistan’s untapped mineral wealth. With confirmed participation from industry leaders like Barrick Gold and strategic collaborations with entities such as the Frontier Works Organization, PMIF 2025 will unveil the groundbreaking National Minerals Harmonization Framework 2025, showcasing investor-centric reforms and a steadfast commitment to sustainable mining practices. With a focus on sustainability and innovation, PMIF 2025 will unlock the full potential of Pakistan’s untapped mineral reserves.
Pakistan is strategically aligning its mineral sector with the global shift toward clean energy technologies, leveraging its rich reserves of critical minerals to support the green economy. With rising demand for lithium, rare earth elements, and strategic metals essential for electric vehicles and renewable energy technologies, Pakistan’s mineral wealth aligns seamlessly with the green economy’s needs. Regional hotspots like Balochistan’s copper and gold reserves, Sindh’s coal deposits, and Gilgit-Baltistan’s gemstones highlight the country’s diverse resource base. The National Minerals Harmonization Framework 2025 will further bolster this transformation by streamlining regulations and encouraging domestic processing and refining capabilities. Coupled with infrastructure advancements like Gwadar port expansion and railway connectivity, Pakistan is primed to deliver critical minerals to global markets while fostering sustainable practices, marking its evolution as a cornerstone of the green economy.
Beyond its geological riches, Pakistan presents a compelling suite of strategic advantages for mining investors. With the world’s fifth-largest population, Pakistan boasts an untapped, trainable workforce, exemplified by Barrick Gold’s initiatives at Reko Diq, where 77% of the workforce is local talent. This demographic dividend, coupled with a robust communications network boasting over 91% cellular coverage even in remote areas, facilitates seamless operations. Furthermore, Pakistan’s strategic geographical location provides unparalleled access to South, Central, and Middle Eastern markets, complemented by established port capacity, including a deep-water port, ensuring efficient offtake opportunities. With a well-established banking sector and a government demonstrably committed to streamlining regulations and incentivizing investment through legislation like the Foreign Investment (Promotion and Protection) Act 2022, tax breaks, and duty exemptions, Pakistan offers a fertile ground for long-term gains in its rapidly developing mining sector.
Pakistan stands at the nascent stage of a mining revolution, driven by the government’s strategic vision and the transformative role of the SIFC. Through harmonized legislation, streamlined policies, and infrastructure development, the SIFC has created an investor-friendly ecosystem that balances economic growth with sustainability. Initiatives like Special Economic Zones (SEZs), Export Processing Zones (EPZs), and advanced geological mapping have unlocked vast reserves of critical minerals essential for clean energy transitions. The government’s proactive policies are creating an increasingly attractive investment landscape. This cohesive strategy not only promises significant economic growth but also prioritizes social investment and local workforce development. In the race towards a sustainable future, Pakistan is not just a participant; it’s a game-changer, powering the green economy with its mineral riches.
The writer is a freelance columnist and can be reached at zartajchaudhary@gmail.com
