Faiza Tehseen

The Khyber Pakhtunkhwa and Gilgit-Baltistan provinces of Pakistan, especially the latter, have unique geological formations hosting a wealth of precious minerals, Muhammad Yaqub Shah, acting member of the Sectoral Council for Marble, Granite, and Minerals, Ministry of Finance, told WealthPK. According to Yaqub, these two areas are so rich in the precious minerals that more than 1,000 geologists are required at the initial stages for at least 10 years to complete the follow-up requisite geo-scientific investigations. “The aforementioned strength of geotechnical experts is required to establish the grade and reserves of known potential. However, lack of robust decisions and non-existence of roadmap frameworks are getting in the way,” he said.

According to Yaqub, Gilgit-Baltistan has dozens of target areas of Lithium, nickel, and cobalt, while the Peshawar Plain Alkaline igneous province (PAIP) rock suits (a 200km strip spreading from Mansehra up to the Afghan border) has seven targets of neodymium – a rare earth metal of lanthanide series. “On the other hand, nepheline syenite, a rare rock discovered in only nine countries, occurs in Bonair, a developing faraway area in Khyber Pakhtunkhwa. However, no special attention is given to the exploitation of this rare earth metal. It is a point to contemplate for strategic and economic policymakers in Pakistan,” he added.

Though Pakistan is an agricultural economy, industrial growth and stability is also important, said Yaqub, who is also former general manager geology at the state-owned Pakistan Mineral Development Corporation (PMDC). At the international level, the green energy production sector’s demand in years 2017-2022 for different minerals i.e., lithium, nickel, cobalt, and neodymium increased by 26%, 10%, 23%, and 3% respectively. The growth ratio of all the pre-described minerals is projected to grow more than twice by the year 2050.

Credit: INP-WealthPk