Field Marshal: Turn Mineral Wealth into ProsperityPakistan

Field Marshal Munir said making effective use of Pakistan’s mineral resources was a shared national objective, and that development gains must reach the communities living in the areas where those resources are found. He emphasised that the success of the mineral sector should not be measured only by extraction or export figures, but by the positive changes it brings to local populations.

“People living in mineral-rich areas must be included in the development process and should be able to see clear improvements in their living standards,” he said, adding that tangible improvements in the lives of local communities were essential. He said Pakistan must move “from potential to productivity, from promises to practical action, and from exporting raw minerals towards value-added economic development.”

According to the forum’s background material, Pakistan’s mineral resources have an estimated potential value of six to eight trillion dollars, spread across about 600,000 square kilometres. The country has 92 identified minerals, of which 52 are commercially utilised. The mining sector currently contributes about 3.2 per cent to Pakistan’s gross domestic product, the forum material said.

The Reko Diq copper and gold project in Balochistan’s Chagai district was one of the main attractions at the forum. According to the forum briefing, Reko Diq contains about three billion tonnes of ore, with an estimated 15 million tonnes of copper and 26 million ounces of gold, and is expected to attract investment of about 8.8 to 9.1 billion dollars. The project, in which Barrick Gold holds a 50 per cent stake, is expected to generate about 7,500 jobs during construction and 4,000 permanent jobs during operations.

The field marshal’s address came days after new gold and copper reserves were reported in Chagai district, adding fresh momentum to the government’s push to develop the mineral sector. He said Pakistan wanted to promote long-term partnerships that could generate sustainable economic value for the country and its international partners, and that the country needed to make effective use of its available resources and capitalise on investment opportunities in mining and minerals.

He also expressed confidence in the capabilities and determination of the Pakistani people, describing them as hardworking and courageous, with the potential to turn their aspirations into reality. Developing the minerals sector as a driver of economic stability, industrial expansion and public prosperity had become essential, he said, adding that the country’s natural resources presented significant opportunities that could only be realised through the hard work and skills of its people.