Adding weight to the government’s pitch was the announcement by National Resources Limited of a significant copper-gold discovery in Balochistan’s Chagai district. The find was revealed by NRL Chairman Muhammad Ali Tabba, who is also the CEO of Lucky Cement.

Pakistan prime minister Shehbaz Sharif on Tuesday declared that Pakistan’s vast, untapped mineral resources – valued in the trillions of dollars – have the potential to lift the country out of its debt cycle and end its reliance on international financial institutions like the International Monetary Fund (IMF).

Speaking at the opening of the two-day Pakistan Minerals Investment Forum 2025 (PMIF25) at the Jinnah Convention Centre in Islamabad, PM Shehbaz said it was time to transform the country’s mineral wealth into economic independence. “If we are able to harvest these great assets,” he said, “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.”

The forum, which drew more than 2,000 participants – including 300 international delegates from countries such as the United States, China, Saudi Arabia, the United Kingdom, Finland, Denmark, and Kenya – is aimed at showcasing investment opportunities in Pakistan’s mineral-rich provinces and regions, including Azad Jammu & Kashmir and Gilgit-Baltistan.

Shehbaz emphasised that future mining agreements would be based on value addition within Pakistan, preventing the direct export of raw minerals. “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,” he said. “This will be the cardinal principle of our partnership.”

He stressed that investors must not only bring in capital but also transfer technology and support local capacity-building over time. “There has to be a partnership which brings benefits to both partners,” the prime minister said, urging collaboration between federal and provincial governments, institutions, and the military to make Pakistan a global player in mineral exports.

The forum comes as Pakistan’s economy struggles with mounting external debt, high inflation, and repeated IMF bailouts. The government hopes that tapping into the country’s largely unexplored mineral sector, which contributes just over three per cent to GDP, can provide a path to long-term stability.

A New Era of Mining Policy

Deputy Prime Minister Ishaq Dar, in his opening remarks, said Pakistan is “strategically positioned to emerge as a global mining powerhouse,” thanks to its vast and diverse mineral reserves. These include large deposits like Reko Diq, rare earth elements, industrial minerals, and precious gemstones such as peridot and emerald.

Dar also formally launched the National Minerals Harmonisation Framework 2025, an ambitious reform package aimed at streamlining policy, harmonising federal and provincial regulations, and encouraging transparent investment procedures.

“The mineral sector can redefine our economy, supply chains, and export profile,” Dar said. “We are laying the foundation of a robust ecosystem for stakeholders, including local and foreign partners.”

The presence of Chief of Army Staff General Asim Munir alongside the Prime Minister at the event underscored the state’s unified backing for the initiative, which is seen as crucial to overcoming both governance and security challenges – especially in mineral-rich but conflict-prone areas like Balochistan.

Significant Discovery in Chagai District

Adding weight to the government’s pitch was the announcement by National Resources Limited (NRL) of a significant copper-gold discovery in Balochistan’s Chagai district. The find was revealed by NRL Chairman Muhammad Ali Tabba, who is also the CEO of Lucky Cement.

NRL, a fully Pakistani-owned consortium of Fatima Fertilizer, Liberty Mills, and Lucky Cement, had acquired an exploration lease in October 2023 over a 500-square-kilometre area. Over 15 months, the firm identified 18 mineral prospects, including the promising Tang Kaur site, now entering advanced drilling.

According to Tabba, “All 13 completed diamond drill holes intersected significant porphyry-style alteration, quartz vein sets, and sulfide mineralisation.” Further drilling is set for May 2025, and a technical report by international consultants is expected by year’s end. Full feasibility studies are to follow within three to four years.