Saudi Arabia and Pakistan have agreed to collaborate in geological surveying to unlock mineral resources worth $6 trillion. The partnership focuses on sharing expertise, technology, and best practices to boost both nations’ mining sectors, as Pakistan seeks to tap its vast mineral reserves, estimated at $6 trillion.
Geological surveys involve mapping and analyzing Earth’s features to identify mineral deposits. Pakistan’s mineral sector currently contributes only 3.2% to GDP and 0.1% to global exports. However, advanced surveys could transform this underutilized sector by pinpointing gold, copper, coal, and salt reserves.
Strengthening Ties for Mutual Growth
Eng. Abdullah Mefter Al-Shamrani, CEO of the Saudi Geological Survey, confirmed the collaboration during the Pakistan Minerals Investment Forum. “We agreed to share expertise, transfer knowledge, and adopt best practices to benefit both nations,” he said.
Al-Shamrani noted that a large Saudi delegation attended the Pakistan Minerals Investment Forum. They held productive discussions with Pakistani companies. Al-Shamrani noted, “Pakistani and Saudi companies held productive talks, agreeing to explore opportunities in both countries.”
Pakistan’s Mineral Wealth
Pakistan boasts one of the world’s largest porphyry copper-gold zones. The Reko Diq mine in Balochistan holds an estimated 5.9 billion tons of ore. Barrick Gold, owning a 50% stake, considers it one of the world’s largest underdeveloped copper-gold areas. Its development could significantly boost Pakistan’s economy.
Developing Pakistan’s mineral sector could significantly uplift its economy as strategic partnerships with Saudi Arabia aim to enhance technical capabilities and attract foreign investment. Meanwhile, the Kingdom will gain access to new resources to diversify its own economic portfolio. “This cooperation will bring great value to both countries,” Al-Shamrani emphasized. With shared goals and expertise, the partnership promises sustainable growth and global competitiveness in mining.
This collaboration marks a significant step towards unlocking Pakistan’s mineral potential. With Saudi Arabia’s support, Pakistan can better exploit its resources, fostering economic growth and development.
