Govt Accelerates Mineral Mining with International Partnerships

The government is ramping up efforts to boost the mining sector, a key priority for the Special Investment Facilitation Council (SIFC). This initiative involves collaboration with both local and international companies to expedite mineral extraction processes across the country.

Under the Ministry of Petroleum, mineral mining departments have been established in all provinces, signaling a coordinated push to enhance mining activities.

Notably, in Balochistan's Chagai district, the government has intensified operations following an out-of-court settlement with Barrick Gold, a major shareholder in the region's mining projects.

The Chagai project, valued at over $4 billion, will see Pakistan contributing $2 billion. State-owned enterprises, including Pakistan Petroleum Limited, Oil and Gas Development Company Limited (OGDCL), and Government Holdings (Private) Limited, hold a majority of Pakistan's stake.

The remaining share is allocated to the Balochistan government, funded by the federal government.

A completed feasibility study has drawn international interest, with Saudi Arabia expected to join the venture soon. Additionally, Pakistan and Kuwait have launched a $1 billion mining fund through the SIFC platform, further underscoring the sector's strategic importance.