Besides, these, there are a number of foreign companies
engaged in mineral exploration work. A small number of private companies are
also involved in mineral exploration in the country, projects like coal and
gems extraction.
The full exploitation of minerals has been
constrained by the absence of risk capital inadequacies in the institutional
farm work and lack of industrial capacity to absorb mineral produce. Government
is now adopting new policy measures for removing the constraints.
A National Mineral Development Policy was announced
in 1995 to enable the role of private sector and exploit the mineral deposits,
with aim of attracting foreign investment, but the policy has not been
implemented at the provincial level.
However, the Chief Executive has formed a high
powered committee under his chairmanship to look into the matter of tapping of
natural resources of the country.
While, the Government has already declared oil and
gas sector as one of the four drives of growth and a priority sector. The
incentives succeeded in attracting a number of multinational companies (MNC’s)
currently engaged in examining prospects of exploration and development of
precious and base metals in Pakistan.
The PASMINCO, BHP Lack Resources of Australia, Oran
more of Ireland and Minorca Holland spend about $29 million on exploration
activities in Pakistan.
- The PASMINCO of. Australia in carrying
out exploration in Labella district of Baluchistan for Zinc and lead and also
drilled for oil in Sindh (Duddar, Mithi, Dhoro and Kanraj).
- The BHP Minerals of Australia is engaged in
exploration of copper and gold in Chiai district of Baluchistan.
- The ORANMORE Resources Ltd., of Ireland is
conducting exploration, of lead and zinc in Khuzdar district of Baluchistan.
- MINORCO., of Holland has signed, to conduct
exploration of gold and other precious metals in K.P.K. and Northern Areas
(F.A.N.A).
Pakistan has enormous potential of untapped mineral
resources, but the extraction and marketing of this large amount of mineral
reserves need high risk capital investment, latest technology, geological data,
physical and Institutional infrastructure in remote mineral bearing areas and
geopolitical environment. We can divide mineral resources, into two major
groups and these are as following;