Gold, copper deposits found in search of iron: Sharifs

CHINIOT: Prime Minister Nawaz Sharif and Punjab Chief Minister Shahbaz Sharif on Wednesday said that gold and copper deposits had been found in the search for iron, hoping that the discovery would go a long way in bringing prosperity to the country.
Speaking here at a briefing on the discovery of precious reserves, the prime minister said better utilisation of these reserves would help enhance revenues and help improve services for the public in the health and education sectors. He said that on the completion of tests of the discovered minerals, local and foreign investment will be sought for them. He said the government would fully facilitate investors.
The premier said work was in progress to address the shortage of gas in the country. He said gas will be imported from Turkmenistan and Iran. The prime minister directed to pass on the benefits of the reduction in prices of petroleum products to the people. He said that a number of projects were being carried out to overcome the energy crisis within three years.
Speaking about security issues, Nawaz said the government was seriously addressing this problem to make the country terror-free. He said Operation Zarb-e-Azb had broken the backbone of the terrorists. The prime minister said the National Action Plan (NAP) to counter terrorism was being implemented in letter and spirit.
Punjab Chief Minister Shahbaz Sharif, Information Minister Pervaiz Rashid, acting governor Punjab Rana Muhammad Iqbal, parliamentarians, representatives of the Chinese Metallurgical Corporation and German consultants attended the meeting.
The prime minister lauded the Pakistani metallurgical experts and scientists for their expertise and hard work and the German consultant firm GEOS for supervising the work. Nawaz said Pakistan was confronting a number of challenges, including terrorism, extremism and poverty, and lack of basic infrastructure and facilities were among the basic reasons for them.
He said that ruling Pakistan was not a “bed of roses”, rather it was a big challenge and his government was facing all the issues with courage, zeal, dedication and a commitment to bring about a positive change in the country. He said it is time that the entire government machinery worked with sincerity to serve the masses. He said the government’s revenues had declined as the price of petroleum products had dropped, but since the move was aimed at benefiting the masses, the government took the decision. Lowering the prices of diesel, he said, would benefit the agriculture sector and lower the prices of food items. He said the major challenges for him are security, bringing peace to the country and ending shortages of electricity and natural gas. He said had the government enough funds, it would have worked on projects to provide 10,000MW electricity without any delay. However, he said, lack of funds is hampering the government’s efforts. He said there was a need to have transparency at all levels of governance. The premier said lower fuel prices have led to a decline in prices of everyday commodities.
“The government is committed to providing healthcare, education and communication facilities to the masses at their doorsteps,” he added.
The premier said talks with Iran for the acquisition of natural gas were at an advanced stage. He said negotiations were also underway on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. He reminded due to Almighty Allah’s blessings, under the lush green fields rich deposits of copper, iron and gold had been found, which will help the country get rid of the begging bowl for good. He said the government will not lose courage and serve the masses with dedication. He said that Pakistan is rich in natural resources and deposits of copper, gold and coal are available in other provinces as well, which would also be explored. He said that raw material available in the area is also attractive for investment and invited foreign and local investors to come and set up steel industry in Chiniot. He hoped that it would provide jobs to around 100,000 people and bring about economic prosperity in the area.
The prime minister said that Almighty Allah has endowed Pakistan with rich mineral resources, some of which have been found, while a large number still need to be discovered. He regretted that the past governments caused unnecessary delays in discovering the mineral deposits. He praised the government of Punjab, headed by Chief Minister Shahbaz Sharif, for expediting the work. He expressed the hope that Chiniot would emerge on the world map as a favourite spot for international investors. He said necessary infrastructure would be built well in advance for provision of better facilities.
Shahbaz Sharif informed the briefing that a business plan for the project will be completed within a year to pass on its benefits to the people.
Renowned scientist and Chairman Pakistan Mineral Company Dr Samar Mubarakmand told the participants that the iron ores deposits in Chiniot had 60 to 90 percent purity and could be directly used by steel mills. He said that presence of gold and other precious minerals with copper ores had also been witnessed.
In a detailed briefing by Dr Samar Mubarakmand, representatives of the Chinese Metallurgical Company and German consultants, the prime minister was informed that there were indications of large copper deposits. It was suggested that there should be more focus on excavating copper as it has a much higher value in the international market as copper fetches 5,000 dollars a tonne against 100 dollars a tonne for iron. The prime minister was informed that with the assistance of Metallurgical Corporation of China (MCC), a feasibility study had been completed in around nine months, whereas it was to be completed in 18 months.
Nawaz Sharif evinced keen interest and asked a number of questions about the type and quality of deposits. He said that he was personally there to share the joy of moment and to share it with the entire nation. He was informed that studies are being conducted currently in 28 square kilometre area, and initial findings showed that there was a high probability of presence of good quality deposits in around 2,000 square kilometres, particularly in south and southeastern parts of Chiniot city. He was shown through graphs and 3-D models, the details of the deposits and informed that there was also probability of finding copper and gold deposits in the area. The prime minister was informed that the quality of iron ore deposits was equivalent to similar ones in Brazil, Russia and India, and had been estimated in thousands of tonnes. Samples had been tested in top laboratories of Canada and Switzerland, which confirmed the high quality of deposits.
Shahbaz Sharif termed the project a game-changer and said with the help of Almighty Allah, the country had been endowed with a rich natural resource that would usher in an era of prosperity in the country. He said his government had embarked on the project with full sincerity and commitment to find iron ore deposits, but the country was lucky to have found precious deposits of copper and gold. He attributed the great find to the transparent award of contracts and sincerity of purpose and said the entire funding for the project had been provided by the Punjab government under the guidance of the prime minister.
Dr Samar Mubarakmand said that in general copper deposits are discovered along with gold and suggested that the area of research be expanded and divided among different companies for excavation and production.
Our correspondent adds: Prime Minister Nawaz Sharif on Wednesday chaired a meeting at the PM House on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project.
The premier said this project was very important for all the countries of the region and Pakistan was keen that it was expedited. He said Pakistan would be happy to play a positive role in this regard. He said that Pakistan was facing a shortage of gas, and this project will help immensely in meeting the deficit.
“We have pinned lots of hopes on this project and want it completed as soon as possible,” he added.Meanwhile, former prime minister Syed Yusuf Raza Gilani met Nawaz Sharif at the PM House. Political situation in the country came under discussion during the meeting.