Pakistan is primarily considered an agricultural economy; however, it would not be wrong to say that it is also abundantly rich in mineral resources.
MINES & MINERALS
Pakistan is primarily considered an agricultural economy; however, it would not be wrong to say that it is also abundantly rich in mineral resources.
Among the valuable minerals found in Pakistan are marble, granite, coal, chromite, gypsum, copper, gold, iron ore, lead-zinc, crude oil, lithium, titanium, cobalt, gemstones and others. According to estimates, Pakistan's mineral resources are worth around $6 trillion.
Information from the Planning Commission of Pakistan indicates that around 600,000 square kilometres of land in the country is believed to hold valuable mineral deposits. So far, 92 different types of minerals have been identified, of which 52 are being commercially exploited. The annual production of these minerals exceeds 68 million tons. Despite the vast opportunities, the annual growth rate of this sector remains limited to only 2–3 per cent. Currently, more than 5,000 mines are operational across the country, supporting over 50,000 small and large industries, and providing direct employment to more than 300,000 individuals.
The Khewra Salt Mine is among the largest in the world, while the lignite coal reserves in Thar, Sindh, are considered some of the largest globally. The Reko Diq area in Balochistan also hosts major copper and gold reserves. However, extracting these resources from the earth requires significant financial investment, advanced technology, and technical expertise.
Despite being resource-rich, the mineral sector contributes only about 3.0 per cent to Pakistan’s GDP. In terms of global mineral exports, Pakistan's share is a mere 0.1 per cent. In 2017, Pakistan's mineral exports were recorded at $500 million, whereas the global figure stood at $401 billion. In contrast, countries like China, Italy, Turkey, Brazil and Spain have highly developed mineral sectors. These countries possess the financial means and advanced technology and expertise to extract, refine, market, and export their mineral resources efficiently.
According to the Planning Commission, Pakistan faces challenges including a lack of coordination between national and provincial mineral policies, an underdeveloped or non-existent road network, an absence of utilities and a shortage of dedicated industrial zones. These are major barriers to investment and development in this sector. Outdated and obsolete technology is still being used for extraction and processing, resulting in wastage rates as high as 75 per cent compared to the global average of 45 per cent. There is also a shortage of skilled and trained manpower, further hindering growth. Access to financing for this sector remains difficult.
Pakistan holds reserves of chromite, iron, zirconium, lead-zinc, cobalt, lithium, titanium, and other rare earth elements. Extracting these requires capital, expertise, and modern technology. Lithium, for instance, is crucial for batteries in electric vehicles and for renewable energy solutions like solar panels and wind turbines. Similarly, copper and other rare earth elements are vital for modern electronics, defence applications, communication systems, electric grids and wiring.
Recognising the strategic importance of these resources, both civilian and military leadership in Pakistan jointly organised the Pakistan Minerals Investment Forum in Islamabad in April. Under the banner of the Special Investment Facilitation Council (SIFC), efforts are already underway to attract investment. The two-day Pakistan Minerals Summit held on April 8–9 was a significant step in this direction. The event was addressed by Prime Minister Shehbaz Sharif and Army Chief General Syed Asim Munir, who jointly encouraged foreign investors to explore opportunities in Pakistan’s mineral sector. This unified stance sent a strong message to international investors and helped build confidence.
The National Mineral Policy 2013 must be urgently revised, as several of its subclauses conflict with provincial policies -- especially since the 18th Amendment has placed mineral governance under provincial jurisdiction
The Oil and Gas Development Company Limited (OGDCL) played a key role in organising the summit. During the event, agreements were signed between OGDCL, Mari Minerals, Pakistan Petroleum Limited (PPL) and the government of Balochistan to launch the Pakistan Mineral Security Partnership (Pak-MSP). The summit saw participation from major investors and exploration companies from the US, Saudi Arabia, China, Turkey, Azerbaijan, the UK and Canada.
Mark Bristow, president and CEO of Barrick Gold Corporation, announced that production of copper and gold from Reko Diq is expected to begin by 2028. Barrick Gold holds a 50 per cent stake in the project, while the remaining 50 per cent is equally shared between the federal and Balochistan governments.
In an interview with a foreign news outlet, the Saudi minister of minerals reaffirmed Saudi Arabia’s interest in investing in Pakistan’s mineral sector, particularly the Reko Diq project. The Saudi Development Fund is expected to invest an initial $100 million.
Globally, the mineral export market is worth $3.612 trillion, in which Pakistan’s share is negligible. Pakistan is estimated to have marble and granite reserves totalling 297 billion tons, yet its annual production stands at only 3.8 million tons. These resources are spread across all provinces, Fata and Gilgit-Baltistan.
According to the Planning Commission, there is immense potential for foreign investment in areas such as precious stones, copper and gold, chromite, iron ore, coal, gypsum, and gemstones. Investment opportunities include mapping, 3D geological surveys, cutting and finishing centers, polishing, refining and processing plants, iron ore processing and steel mill complexes, coal-fired power plants, high-grade plaster of Paris plants, gypsum board units, and gemstone cutting, finishing, and testing facilities.
Despite the successful hosting of the Pakistan Minerals Summit, authorities must now take all necessary steps for the sector’s sustainable development. The National Mineral Policy 2013 must be urgently revised, as several of its subclauses conflict with provincial policies -- especially since the 18th Amendment has placed mineral governance under provincial jurisdiction.
There is a pressing need to upgrade infrastructure -- roads, access networks, and utilities like electricity and water -- and establish dedicated industrial zones. Modern technology must be adopted and transferred to the local level. Training and skilled manpower, along with easier access to business loans from banks and financial institutions, must also be ensured.
To accelerate economic growth and increase exports, Pakistan must also shift focus from traditional to non-traditional sectors. The successful hosting of the Pakistan Minerals Summit and the unified stance of the civil and military leadership are positive signs. There is hope that Pakistan will fully harness its rich mineral wealth in the coming years. This mineral revolution could bring about national progress and prosperity and transform the lives of millions.
The writer is a senior journalist.
