Hidden treasure?

First question: Which elements are essential for powering smartphones, electric vehicles, missile systems, wind turbines, medical imaging devices, aerospace alloys, 5G networks and quantum computing? Answer: Rare earth elements (REEs).

Fact: The demand for smartphones, electric vehicles, missile systems, wind turbines, medical imaging devices, aerospace alloys, 5G networks, and quantum computing is soaring. Consequence: Global powers as well as emerging economies are racing to secure REEs.

Of the 17 REEs, Neodymium is the cornerstone of high-strength permanent magnets used in electric vehicle motors, wind turbines, smartphone speakers and missile guidance. Neodymium fetches $100,000 per ton and China controls 90 per cent of Neodymium’s global supply.

Dysprosium, a heavy REE, is valued at approximately $400,000 per ton due to its scarcity. Yes, it is a critical component in sensors used in advanced aircraft, including the JF-17. Yes, China controls 95 per cent of the global supply.

Neodymium is found in carbonatites (rare igneous rocks) and pegmatites (very coarse-grained igneous rocks). Loe Shilman is 230 kilometres from Islamabad, travelling to Peshawar via the M-1 Motorway, then proceeding westward through Jamrud and Landi Kotal towards the Khyber Pass region.

Lo and behold, Loe Shilman is a key carbonatite locality that lies within the Peshawar Alkaline Complex, a region of alkaline igneous activity. Yes, Loe Shilman is part of a suite of alkaline rocks formed some 50 million years ago during Himalayan tectonics. Yes, the Geological Survey of Pakistan (GSP) confirmed a couple of decades ago that Loe Shilman contains REE-bearing minerals like bastnäsite, monazite, and apatite. Despite this potential, no exploration has taken place due to competing national priorities.

The Chagai-Raskoh arc, 400 kilometres from Quetta, has the tectonic setting, volcanic rocks and key REE hosts. Rocks in Dalbandin and Nok Kundi, in particular, show geochemical anomalies for REEs. Modern techniques like airborne radiometrics are now available, but a lack of funding hinders exploration.

In Skardu, Hunza and Nagar, unusually high concentrations – or geochemical signatures – of uranium and thorium have been identified. Yes, these elements often co-occur with minerals that contain REEs.

Based on two conservative assumptions – 10 million tons of REE-bearing ore, 2.0 per cent REE content – the value at Loe Shilman could exceed $10 billion, excluding speculative upside from undiscovered deposits or price spikes due to global shortages.

Pakistan’s REE deposits of neodymium and dysprosium in Chagai-Raskoh, Loe Shilman and Gilgit-Baltistan hold significant export potential to China, the world’s largest REE consumer. With China’s demand for neodymium in EV magnets and dysprosium in high-tech applications, Pakistan could supply a few thousand tons annually. For that to happen, exploration – and not politics – has to be a priority. For that to happen, mining – and not politics – has to be a priority.

The writer is a columnist based in Islamabad. He tweets/posts @saleemfarrukh and can be reached at: farrukh15@hotmail.com