Pakistan seeks UAE investment in five mineral projects
Country targets development of copper and gold mines in Balochistan, Waziristan, and Gwadar
Pakistan has identified five mineral projects for potential investment by the United Arab Emirates (UAE), with a formal partnership agreement expected to be signed soon.
According to a news report, the selected projects include copper mining blocks in Chagai and Waziristan and a copper smelter in Gwadar, with capacities ranging from 50,000 to 80,000 tonnes per year.
Among the key sites are Balochistan Mineral Resources Limited’s copper blocks EL-302 and EL-303 in Chagai, and the Frontier Works Organisation’s copper blocks EL-207 and EL-320 in Chagai, along with EL-101 and ML-30 in Waziristan.
In parallel, Pakistan is advancing the Reko Diq copper and gold mining project in Chagai, where Barrick Gold Corporation has been conducting feasibility studies. The study is expected to conclude by the end of 2024, paving the way for mine construction to commence in 2025, with mining operations targeted to begin by 2028.
Pakistan’s government is also planning to establish a rail network connecting Gwadar and Chagai to support these projects. Additionally, a mining fund worth $1 billion is being discussed in collaboration with Kuwait, with a state-owned Pakistani company designated as the lead entity.
Reference Link:- https://profit.pakistantoday.com.pk/2024/08/15/pakistan-seeks-uae-investment-in-five-mineral-projects/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
