Pakistan is gearing up to attract significant investment from the United Arab Emirates (UAE) in its mineral sector, with plans to sign a formal partnership agreement soon. The focus is on five key mineral projects, including copper mining ventures and a copper smelter.
The selected projects encompass several high-potential sites:
- Chagai copper blocks: The Balochistan Mineral Resources Limited operates copper blocks EL-302 and EL-303, while the Frontier Works Organisation manages EL-207 and EL-320.
- Waziristan copper blocks: Blocks EL-101 and ML-30 are also part of the investment scope.
- Gwadar copper smelter: This facility is projected to have a capacity between 50,000 and 80,000 tonnes per year.
In addition to these projects, Pakistan is advancing the Reko Diq copper and gold mining initiative in Chagai. Barrick Gold Corporation is conducting feasibility studies for Reko Diq, which are expected to conclude by the end of 2024. The construction of the mine is slated to begin in 2025, with full mining operations anticipated to start by 2028.
To support these ventures, Pakistan’s government plans to establish a rail network connecting Gwadar and Chagai. Additionally, discussions are underway to create a $1 billion mining fund in collaboration with Kuwait, with a state-owned Pakistani company set to lead the initiative.
