‘Trillions of dollars’ in mineral deposits can help Pakistan say goodbye to institutions like IMF: PM Shehbaz
Prime Minister Shehbaz Sharif on Tuesday said that if Pakistan managed to harvest its mineral reserves that valued “trillions of dollars”, it could allow the country to say farewell to global financial institutions like the International Monetary Fund (IMF), as he delivered his address at the Pakistan Minerals Investment Forum 2025 (PMIF25).
The two-day forum, hosted by Pakistan, commenced at the Jinnah Convention Centre in in Islamabad. The country plans to unveil a unified framework to promote mining and mineral investment opportunities across four provinces, Azad Kashmir and Gilgit-Baltistan at the high-level event which will be attended by around 300 foreign delegates.
The PMIF25 will serve as a premier platform for global stakeholders to explore investment opportunities in Pakistan’s emerging minerals sector and unlock the country’s vast mineral potential.
PM Shehbaz highlighted the mining potential across the country and said, “We have to make sure that whatever permissions to potential investors in future … we will not allow raw materials to be shipped out of Pakistan.
He added, “From today onwards, there has to be an integrated policy where you [investors] mine raw material, have downstream industry, convert them into finished goods and then export it out.”
“Such agreements will entail that investors will bring technology and transfer it to Pakistan over a period of time,” he said.
He continued, “This will be the cardinal principle of our partnership. In the future, you [investors] are most welcome to these mines all over Pakistan but there has to be a partnership which brings benefits to both partners.”
Speaking about the country’s natural resources, he said, “This is not a secret. In the public domain, these deposits are valued trillions of dollars. If we are able to harvest these great assets … Pakistan would say goodbye to institutions like the IMF … It will be able to get rid of the mountain of loans and borrowed sums of money costing us a fortune.”
He also urged the federal and provincial governments, institutions and the military to work together saying, “If we are able to put our act together … we can turn the corner within no time.”
Deputy PM Dar’s opening remarks
Deputy Prime Minister Ishaq Dar said in his opening remarks that Pakistan was strategically positioned to emerge as a global mining powerhouse, state media Radio Pakistan reported.
He highlighted that Pakistan was home to monumental reserves like Reko Diq. The country also hosts vast resources of rare earth elements, industrial minerals, non-metallics and gemstones, including peridote and emerald, he added.
The deputy PM said, “With this vast untapped mineral potential, Pakistan’s resource corridor is poised to reshape global supply chains and attract foreign direct investment.”
Dar said that the government has prioritised the strategic development of the mining sector through progressive policy reforms and investor-centric initiatives, laying the foundation for a robust ecosystem that delivers value for all stakeholders.
He further stated, “This investment forum provides a unique platform for stakeholders, partners and friendly countries to explore new prospects and build mutually beneficial partnerships.”
Speaking at the discussion session, Commerce Minister Jam Kamal emphasised that Pakistan is the destination for investment in minerals. He said, “Our resources are potentially so high that these will definitely attract a lot of investment and interest from local and foreign companies.”
‘Significant’ copper-gold mineralisation found in Chagai
Separately, the National Resources Limited (NRL) said it has discovered significant copper-gold mineralisation in Balochistan’s Chagai district.
This was announced by NRL Chairman Muhammad Ali Tabba, also the chief executive officer for Lucky Cement, during an address at today’s PMIF, according to a press release by the company.
NRL, the statement noted, was a “100 per cent Pakistani privately owned company and a subsidiary of Fatima Fertilizer, Liberty Mills Limited, and Lucky Cement”. It received an exploration lease for minerals in Chagai in October 2023.
According to NRL, the licensed area of 500 square-kilometres “contained two known porphyry prospects with strong exploration potential”. It added that it had identified 18 new prospects over 15 months, one of which was “Tang Kaur” and had “rapidly progressed to an advanced drilling stage”.
NRL has “completed 13 diamond drill holes (3,517 metres), all of which intersected significant porphyry-style alteration, sheeted and stockwork quartz vein sets, and sulfide mineralisation”, the press release quoted Tabba as saying.
Tabba stated that advanced drilling at Tang Kaur was scheduled for May 2025, leading to a technical report by internationally recognised consultants, who are already monitoring the project, by year-end. This would be followed by three to four years of “detailed exploration, culminating in feasibility studies, while exploration of the other prospects and leases continues”.
The NRL further said it had acquired a lead-zinc exploration license adjacent to a well-known deposit, where a bankable feasibility study has already been conducted.
The firm also highlighted that its current ratio of local employment was “above 90pc” as it considered “indigenous populations as key stakeholders and actively supports social development”.
NRL noted it was working with the Balochistan government and the Special Investment Facilitation Council (SIFC) to secure “two additional copper-gold Exploration licenses in Chagai supported by a dedicated $100 million exploration fund”. It added that a memorandum of understanding with OGDCL had also been acquired to work on newly acquired leases together.