Major Minerals Witnessed Growth In July-March FY 2023

During July-March FY2023, the production of major minerals such as Coal, Dolomite, Barytes, Lime Stone, Rock Salt and Ocher witnessed growth of 17.6, 42.2, 53.6, 10.6, 12.4 and 15.4 percent, respectively

ISLAMABAD (UrduPoint / Pakistan Point News - 8th Jun, 2023 ) :During July-March FY2023, the production of major minerals such as Coal, Dolomite, Barytes, Lime Stone, Rock Salt and Ocher witnessed growth of 17.6, 42.2, 53.6, 10.6, 12.4 and 15.4 percent, respectively.

According to the Economic Survey, further details of the extraction of principal minerals are given in each province has its own mines and minerals department which is responsible for exploration, exploitation, and investment promotion of mineral endowments in the provinces.

Efforts are being made for scientific exploration and exploitation of the mineral resources in all provinces.

The provincial government has given prompt attention to the development of minerals.

The following initiatives have been taken during the period of July-March FY 2023.

Major initiatives of Punjab: New policies for rock salt and limestone mining to promote sustainable and value-added opportunities, Competitive bidding for prospecting licenses and mining leases for all minerals in schedule 3, Issuance of exploration licenses for cement plants, coal, and iron ore areas, Establishment of a Citizen Contact Center for public access to information and services, and Redrafting of Punjab Mining Concession Rules and new Mines & Minerals Regulation Act 2022 in progress.

Major Initiatives of Khyber Pakhtunkhwa: Deployment of Mining Cadastre System, allowing investors to access mineral title information and manage their granted mineral titles, Granting of 1,968 Prospecting Licenses, conversion of 245 Prospecting Licenses into Mining Lease, and renewal of 30 Mining Leases, Establishment of regional offices in newly merged districts with a One Window facilitation Centre, and Signing of an agreement with the Geological Survey of Pakistan for the Geological Mapping of Khyber Pakhtunkhwa to identify new mineral investment potential zones.

Major Initiatives of Sindh Strengthening of Directorate General Mines and Mineral Development (M&MD): The Directorate General M&MD in Karachi is undergoing construction and renovation to create a comfortable work environment for officials to improve work performance and service delivery.

The project includes the establishment of a Mineral Testing Lab, purchasing hardware/furniture/fixtures, geological/lab equipment for exploration activity, and vehicles for field monitoring and officers.

Profile Study for Identified Minerals for Reserves Estimation in the Province of Sindh: The objective of the study is to determine the quantity, quality, and search for new minerals in the province, attracting foreign/local investments and generating economic and employment opportunities.

The data collected will be made available to the public and private investors, and the study will promote activities in public and private sectors while introducing modern mining methods to minimize the wastage of minerals.

Major Initiatives of Balochistan, The Reko-Diq dispute has been settled, and mineral agreements have been reached, bringing in US$7 billion investment and 7000+ jobs. Investors' confidence is increasing, leading to more interest in the province's mineral resources.

The Government of Balochistan has established two companies to explore and mine mineral resources in the province.

Balochistan Mineral Resources Company Limited (BMRL) and Balochistan Mineral Exploration Company (BMEC) have initiated exploration work and joint ventures with international investors to increase revenue and establish indigenous human resources in modern mining.

A financial consultant has been hired to analyze the fiscal regime of the Mines & Minerals Development Department and explore possibilities of enhancing revenue from the mineral sector.

The automation of the licensing regime, royalty management, and inspection on sites has been initiated with the project "Institutional Strengthening Automation of Royalty Regime in Mining Sector." Most modules of the software development have been completed, and data digitization has been carried out.

The Exploration Promotion Division of DGMM is managing the project to generate mineral resource data of Balochistan using drone-held magnetometers for mineral reconnaissance, aiming to attract mining sector investors from all over the world.

The integrated development of mining sites has been initiated to enhance labour welfare and safety measures, with the provision of scholarships, safety equipment for the inspectorate of mines, and other measures.

The government is constructing and strengthening check posts and installing digital weighbridges to curb pilferage and ensure proper record keeping.

The department is exploring the possibility of establishing a mineral testing laboratory under PPP mode to attract several investors, as Balochistan lacks testing laboratories despite its rich potential of mineral resources.