Faiza Tehseen

Pakistan’s mineral sands abound in precious metals, and their indigenous extraction can help the country meet its domestic industrial needs and generate revenue, Chief Geologist Koh-e-Daleel Mining Company (PVT) Limited Abdul Bashir said this while talking to WealthPK.

“Pakistan has yet to fully capitalize on its precious mineral wealth, especially embedded with its extensive mineral sands. Its vast coastline, riverine deposits and deserts hold significant reserves of precious metals and minerals. The principal components of heavy mineral sands mostly include zircon, rutile, ilmenite, xenotime, gold, silver, copper, monazite, titanium, and other rare earth elements (REEs). The mineral content of these sands may range from 0.5% to more than 20%.” He said mineral extraction was a key driver for economic growth. All the said minerals are crucial for global high-tech and clean energy for both industrial and domestic use. Value-added export from the minerals extracted from sands can hugely help Pakistan overcome its financial crisis.

Therefore, this area needs to be prioritised to meet national and international demands. Bashir said, “Coal and a few other minerals have been the country’s focus for quite some time. Their mining is comparatively expensive. On the other hand, precious metals, minerals or rare earth elements (REEs), offer more sustainable and potentially lucrative investment opportunities, value addition, and sustenance.” To capitalize on the mineral sand sources, Pakistan can adopt a framework similar to countries with a robust mineral industry like China, Australia, Canada, South Africa, the United States, and the Netherlands. Pakistan can get technical coordination from China in this regard.

He said, “Targeted policies and investment are direly needed to unlock the potential of mineral sand resources. Lack of investment and outdated methods are hindering development. To attract investors and experts toward mineral extraction, the government can offer public-private partnerships, tax incentives, and easy-to-follow regulations. It is high time for the policy-makers to seriously consider the importance of the indigenous mineral sands.” Geologist and miner Imran Babar said, “A good number of people in Pakistan are related to artisanal mining and panning. They extract mostly gold and silver.

A lot of people among them are not well-educated and are unaware of the presence of other precious/semi-precious minerals and metals other than gold and silver. REEs is totally a new thing for them.” “If these people get the necessary training and knowledge, obviously they will properly exploit these indigenous mineral sand sources. To attract other investors and miners toward mineral extraction, the government must offer them lucrative incentives and organize awareness sessions on processing, value addition, and marketing,” he remarked.

Credit: INP-WealthPk