US company to invest $200m in Pak pink salt industry

WASHINGTON: Miracle Saltworks Collective Inc., an American leading company in import, manufacture and supply of sea salt, apprised the Ambassador of Pakistan to the United States, Masood Khan, about its plans to invest nearly $200 million in curating, processing, distributing and importing pink Himalayan salt.

According to experts, India earns billions of dollars annually through exports of salt, imported from Pakistan at $42/ton. They say there is no salt mine in the Himalayas and India was deceiving the world in the name of Himalaya’s salt.

The investment would be made in preparing feasibility, reserve report, upgradation of mining procedures and processes, construction of world class processing and packaging facility and community development programs, says a press release received here today from Washington DC. During a briefing to top leadership of Miracle Saltworks Collective Inc. (MSCI), it was informed that Pakistan, with its geographical monopoly of the resource, has huge reserves of pink salt with a potential earning of $12 billion annually. According to an estimate, the country possesses approximately 22.22 billion tons of the natural resource, concentrated mostly in the Salt Range areas of Kalabagh, Warcha, Khewra and Bahadur Khel, with an immense potential of kick-starting massive economic activity. The delegation included President and CEO Ahmed N. Khan, Vice President Tad M. Ballantyne, CCO/Board Member Muhammad M. Khan, Director & Board Member Jeffry Meilander, M. Shamsher Khan, Martyn Element (Vancouver Canada), Nasim Tyab (Vancouver Canada), Dan Terret (Vancouver Canada), Rana Rehan Anwar (Saint Louis), Tony Garson (London England) and Attiq Rana (Saint Louis).

It was informed that currently Pakistan was retaining $70 million only in lieu of export of this unique natural resource due to lack of policy framework and adequate facilities for processing, packaging and worldwide distribution.

Briefing the ambassador, MSCI President Ahmed N. Khan informed that a multi-pronged solution featuring public private partnership under a clearly defined policy was being worked out to assist the government in regulating and encouraging private sector to take a lead role in exploiting the existing potential.

It was informed that the company was undertaking a joint venture with Pakistan Mineral Development Corporation. The company plans to raise market awareness globally and reach 10 million tons of verified extraction by 2030. Two world class processing and distribution facilities would be established in Doha and China to fulfil global demand for Pakistani product.

Ambassador Masood Khan welcomed the MSCI’s interest in making investment and promoting Pink Salt industry in the country. He said the government was committed to providing every possible facilitation to international investors and business community intending to invest in traditional and non-traditional sectors of the economy. Highlighting various steps taken for promoting ease of doing business and restoring confidence of the investors, the ambassador said that Pakistan, due to its unique geostrategic location, was poised to serve a vast market of Central and West Asia, Middle East and North Africa. He said that there was a huge market of pink salt not only in the region but across the world, which guaranteed profitable business venture in the sector. The ambassador assured the leadership of Miracle Saltworks Collective Inc. of every possible support of the embassy in facilitating early finalization and implementation of their business plan in the country.