Pakistan is actively seeking international investment to develop its vast mineral resources, estimated at $6 trillion. To facilitate this, the country hosted a two-day mines and minerals conference attended by delegates from the United States, China, Saudi Arabia, and companies like Barrick Gold and Woods Mackenzie.
“Pakistan’s army can guarantee a strong safety net and proactive measures to protect the interests and trust of partners and investors,” General Asim Munir, the army leader from Pakistan, reassured the guests.
This commitment comes in response to recent security concerns in Balochistan, a mineral-rich province bordering Iran and Afghanistan. Notably, insurgents recently hijacked a train carrying over 400 passengers, including soldiers, resulting in casualties among soldiers, railway employees, passengers, and insurgents.
Balochistan is home to significant mining projects, including Reko Diq, one of the world’s largest undeveloped copper and gold deposits, jointly owned by Barrick Gold and Pakistan. Barrick Gold estimates that Reko Diq has the potential to generate $74 billion in free cash flow over 37 years.
Ethnic Baloch separatists have long opposed foreign investment, viewing it as Islamabad’s attempt to exert control over regional resources. They have been fighting for decades for a greater share of local resources, with some groups now demanding a separate homeland.
Despite these challenges, Pakistan’s leadership remains committed to attracting international partnerships for resource development. “We welcome international organizations to explore investment opportunities partnerships with us in the development of broader resources,” General Munir underlined.
