Significant deposit of precious mineral discovered

ISLAMABAD: A significant deposit of antimony, a highly strategic and valuable mineral, has been discovered in Balochistan, and the Oil and Gas Development Company Limited (OGDCL) and the Pakistan Mineral Development Corporation (PMDC) have formulated a comprehensive plan to explore and commercialise the resource.

This initiative follows a memorandum of understanding (MoU), signed between the two entities several months ago, aiming to develop and market antimony using an optimal business model.

A leading exploration and production company in the oil and gas sector is now all set to emerge as the country’s biggest company in the mineral sector under the approval of OGDCL board to diversify its investment in the mineral sector, a senior official of the OGDCL said. The OGDCL inked an MoU with the PMDC some months back under which the latter would share its historical data of all minerals and its expertise and, in return, the former would provide resources to tap the potential of minerals in the country.

Both the OGDCL and the PMDC would have 50:50 shares in all business deals. Right now, both entities are working to enter into a joint venture, which would be announced in the Pakistan Ministerial Investment Forum, to be held in Islamabad on April 8-9.

The two organisations have acquired two exploration blocks—one in Killa Abdullah and another in Zhob—where the antimony deposits have been identified. Additionally, the consortium is in the process of securing 10 mineral-rich blocks in Gilgit-Baltistan (GB), with six showing indications of gold and copper and four containing expected reserves of nickel, cobalt, and other valuable minerals.

The GB government has recently revised its mineral policy, shifting from a first-come, first-served allocation system to a competitive bidding process for these blocks, which is set to commence soon. In preparation, the OGDCL teams and the PMDC experts have conducted field visits to assess the region’s potential.

“We have also engaged with the Punjab Mineral Department to explore identified mineral reserves in Chiniot, Punjab. The law-and-order situation and accessibility in Punjab make operations easier compared to other regions,” an OGDCL official stated.

Regarding antimony exploration in Balochistan, the OGDCL and PMDC plan to initiate remote sensing and geological surveys to determine the exact size and depth of the deposits. Antimony is considered a critical strategic mineral due to its extensive military applications, including its use in armour-piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, ammunition, and nuclear weapons production. It is also a key component in tungsten steel and lead hardening for bullets—crucial applications during World War II. Currently, China is the world’s largest exporter of antimony, with prices ranging between $22,000 and $32,000 per ton.

To address Pakistan’s lack of mineral processing facilities, officials noted that Oman has existing infrastructure that could be utilised for refining antimony. However, the country faces significant technological and human resource constraints in the mining sector. To overcome these challenges, the OGDCL is committed to providing financial resources and geologists while working with the Higher Education Commission (HEC) and leading universities to modernise the mining and mineral sciences curriculum, following global models from Australia, Chile, Canada, and Mexico.

The government is also working on a unified regulatory framework for the minerals sector, which will be presented to foreign investors and international delegates at the Pakistan Minibreak Investment Forum 2025. Additionally, the OGDCL has engaged with the National Vocational and Technical Training Commission (NAVTTC) and other technical boards to develop a skilled workforce for the mining industry.

“Currently, Pakistan relies on skilled labour from Sri Lanka for its gemstone sector,” the official noted, emphasising the need for domestic capacity-building to fully harness the country’s vast mineral resources.