Minerals worth trillions of dollars can rid nation of IMF reliance: PM
New copper-gold reserves found in Balochistan
STATE OF THE NATION
April 8, 2025
PRIME Minister Shehbaz Sharif has stated that Pakistan could break free from reliance on global financial institutions such as the International Monetary Fund (IMF) if it properly leverages its mineral reserves, which are valued in the trillions of dollars.
Speaking at a session of the two-day Pakistan Minerals Investment Forum 2025 (PMIF25) held in Islamabad on Tuesday, the prime minister emphasised the country's vast mining potential. He remarked, “We must ensure that in the future, permissions granted to potential investors prevent the export of raw materials. From now on, there must be an integrated policy where you [investors] mine, establish downstream industries, convert raw materials into finished products, and then export them.”
He added, “This will be the fundamental principle of our collaboration. In the future, we welcome investors to explore mines across Pakistan, but there must be a partnership that ensures mutual benefits.”
Discussing the country’s natural resources, Shehbaz pointed out, “This is no secret. These deposits are valued at trillions of dollars in the public domain. If we can tap into these immense resources, Pakistan could say goodbye to institutions like the IMF and rid itself of the heavy burden of loans, which have been costing us a fortune.”
According to Dawn.com, the premier urged the federal and provincial governments, other major institutions, and the military to work together, saying, “If we come together and put our efforts into action, we can turn the corner very quickly.”
‘Global leader in mining’
In his opening address, Deputy Prime Minister Ishaq Dar stated that Pakistan was strategically positioned to become a global leader in mining, as reported by Radio Pakistan. He highlighted that Pakistan is home to massive reserves such as those in Reko Diq, along with vast quantities of rare earth elements, industrial minerals, non-metallics, and gemstones like peridot and emerald.
Dar added, “With this untapped mineral wealth, Pakistan’s resource corridor is poised to reshape global supply chains and attract foreign direct investment.”
New copper-gold discoveries
National Resources Ltd (NRL) announced a significant discovery of copper-gold mineralisation in Chagai District, Balochistan. The announcement was made by NRL Chairman Muhammad Ali Tabba, who is also the CEO of Lucky Cement, at a session during the PMIF25. According to a company statement, NRL, a fully Pakistani-owned company, received an exploration lease for the Chagai area in October 2023.
NRL revealed that its licensed area, spanning 500 square kilometers, contained two known porphyry prospects with strong exploration potential. Over the past 15 months, 18 new prospects were identified, including the Tang Kaur prospect, which is already undergoing advanced drilling.
The company has completed 13 diamond drill holes totaling 3,517 metres, all of which encountered significant porphyry-style alteration and sulfide mineralisation. Tabba stated that advanced drilling at Tang Kaur is set to continue in May 2025, with a technical report from internationally recognised consultants expected by the end of the year. The company plans to carry out detailed exploration over the next three to four years, leading to feasibility studies, while continuing to explore other prospects and leases.
NRL also announced that it has acquired a lead-zinc exploration licence near a well-known deposit where a bankable feasibility study has already been conducted. The company emphasised that its local employment ratio is currently above 90 per cent, considering indigenous populations as key stakeholders and actively supporting social development.