Pakistan’s Prime Minister Shahbaz Sharif, on Tuesday, addressed the Pakistan Minerals Investment Forum 2025, revealing that the country’s mineral reserves are valued in the trillions of dollars. He emphasized that tapping these resources could help Pakistan bid farewell to the International Monetary Fund (IMF) and eliminate its growing debt burden.
“The natural resources can help us rid ourselves of these mountains of loans and foreign debt,” Sharif said, urging foreign investors to seize current opportunities.
He stressed that strong partnerships with foreign investors could lead to a mutually beneficial arrangement without the need for foreign loans.
Sharif further stated that the forum would foster greater investment in the minerals sector, boosting investor confidence and creating jobs.
He highlighted the vast mineral reserves in Khyber Pakhtunkhwa, Balochistan, Gilgit-Baltistan, and the fertile lands of Sindh and Punjab. Additionally, Azad Kashmir was described as rich in natural treasures.
Sharif acknowledged that the exploration and development of these resources would be a key driver of economic growth and help the country become self-sufficient.
The prime minister also described the progress in Reko Diq as “encouraging,” noting that mining activities in Balochistan would contribute significantly to employment and socio-economic development in the region.
“Investment in the minerals sector is beneficial for everyone,” Sharif added.
‘Leader in global mineral economy’
General Asim Munir, Pakistan’s Chief of Army Staff, also addressed the forum, affirming Pakistan’s readiness to lead in the global mineral economy.
"I firmly believe that Pakistan is ready to emerge as a leader in the global mineral economy,” Munir stated, pledging full institutional support, international cooperation, and robust security measures to develop the sector and attract foreign investment.
The army chief underscored the vital importance of economic security as part of national security, adding that the Pakistan Army would protect investor confidence through proactive security measures and facilitate the development of both upstream and downstream industries.
“We are committed to creating a secure environment for investors,” Munir said, “and we are also focused on providing the necessary infrastructure to unlock the full potential of our mineral wealth.”
Munir also highlighted Pakistan’s investment in human capital. “Currently, 27 students from Balochistan are being trained abroad in mineral exploration in Zambia and Argentina,” he noted, emphasizing the need for a skilled workforce to support the country’s growing mineral economy.
In addition to the mineral resources, Munir stressed the importance of value addition, refining, and industrial growth. “With vast mineral deposits under the feet of the Pakistani people, skills in their hands, and a transparent mineral policy in place, there is no room for despair or inaction,” he said.
Gen. Munir also acknowledged the critical role of Baloch tribal elders in facilitating mining activities and ensuring peace in resource-rich areas, saying their efforts were essential for the sector’s progress.
“We, the people of Pakistan, collectively assure our partners and investors that benefiting from your expertise in business and mineral wealth development is our national aspiration. You can rely on Pakistan as a trusted and confident partner,” he concluded.
Balochistan insurgency
The conference comes weeks after insurgents hijacked a train carrying over 400 passengers, including soldiers, in Pakistan’s volatile southwestern province, which borders Iran and Afghanistan.
The majority of Pakistan’s mines, including Reko Diq, which houses one of the world’s largest undeveloped deposits of copper and gold jointly owned by Barrick Gold and Pakistan, are located in the Balochistan province.
Barrick Gold estimates that Reko Dig has the potential to generate $74 billion in free cash flow over 37 years.
Ethnic Baloch separatists, who have long been running an insurgency in the region, oppose any foreign investment, which they say is an attempt by Islamabad to solidify its hold through external players on their regional resources.
One of the largest insurgent groups, the Baloch Liberation Army, claimed responsibility for the train hijacking, which resulted in the deaths of 23 soldiers, three railway employees, and five passengers. At least 33 insurgents were also killed.
Copper-gold potential
Meanwhile, National Resources Ltd (NRL), a privately held firm backed by Fatima Fertilizer, Liberty Mills, and Lucky Cement, has reported a promising copper-gold discovery at its Tangkore site in Balochistan’s Chagai district.
NRL Chairman Muhammad Ali Tabba revealed that initial drilling confirmed near-surface mineralization with copper grades between 0.23% and 0.48% and gold concentrations ranging from 0.09g/t to 0.14g/t. Silver content reached up to 6.21g/t. The results indicate a commercially promising deposit with total copper-equivalent grades of up to 0.56%.
NRL, which has held its exploration license since October, has already drilled 3,517 meters across 13 holes. A second drilling phase is set to begin in May, with an NI 43-101 report expected by year-end. Long-term plans for the site include detailed feasibility studies and in-country processing to maximize value.
Armed with a $100 million exploration fund, NRL has also acquired a lead-zinc block and inked a memorandum of understanding (MoU) with Oil and Gas Development Company (OGDC) for joint exploration. This partnership aligns with Pakistan’s push to unlock its mineral wealth and reduce foreign debt dependency.
