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May 10, 2017
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GSP's Rs663mln project to be incorporated in PSDP 2017/18

Business

May 10, 2017

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ISLAMABAD: A project worth Rs663 million of the Geological Survey of Pakistan (GSP) would be incorporated in the Public Sector Development Programme (PSDP) for the year 2017/18.

Under the project, the GSP will launch 3D mineral surveys in potential areas of Sindh and Balochistan to assess metallic mineral reserves of iron, copper, gold, silver and molybdenum, official sources told APP on Tuesday.

The project, scheduled to start on July 1, 2017 and complete in four years, had already been approved by the National Assembly Standing Committee on Petroleum and Natural Resources. The survey would be carried out at two prospective sites, including Moti Jo Wandio in district Tharparkar of Sindh and Mashkichah in district Chaghi of Balochistan province to evaluate potential economic mineral resources, they added.

The project areas fall in the pre-Cambrian Shield Rock and Chaghi Magmatic Arc, which have high potential of metallic and non-metallic minerals. The sources said that the GSP has demanded Rs271.684 million fund allocation for the next fiscal year to initiate an extensive 3D mineral exploration programme to demarcate such prospects by carrying out necessary investigations consisting of geological and geophysical prospecting, chemical analysis on 'XRD, XRF, EPMA, ICPMS, SEM, etc' at Geoscience Advance Research Laboratory GSP, Islamabad and drilling at the selected sites.

They said the project would help develop a reliable database, which would be utilised for geological / geophysical interpretation and techno-economic aspects in both the areas. The sources said mining activities would start resulting in utilisation of the hidden natural resources and enormous economic activities.

Besides, publication of 3D model maps and reports on the mineral potential of the region would attract foreign direct investment in the mineral sector, boosting its share in the overall gross domestic product of the country, they added.

 

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