Web Desk: Pakistan’s minerals and mining sector received a major boost as five leading business groups announced plans to invest billions of dollars in mineral exploration and development, signaling growing confidence in the country’s resource potential, particularly in Balochistan.
The announcements came alongside the signing of a joint venture agreement between Mari Minerals Ltd and Globacore Minerals, marking a significant step toward expanding exploration of gold and copper reserves.
Joint venture targets strategic mineral exploration
Under the agreement, Globacore Minerals will invest in mineral exploration in Balochistan through a joint venture with Mari Minerals Ltd, a subsidiary of Mari Energies. The partnership will focus on exploring precious minerals in the Chagai district, a region known for its vast but underdeveloped mineral wealth.
Company officials said Globacore brings technical expertise and international experience in gold and copper exploration, while Mari Minerals provides local operational strength and market knowledge.
Local conglomerates commit billions
Meanwhile, five major Pakistani business groups Lake City Holdings, Fatima Group, Din Group, Hilton Group and Soorty Group — jointly announced multi-billion-dollar investments in Balochistan’s minerals sector. The combined market value of these groups stands at about $5 billion, underscoring the scale of the planned commitments.
The move highlights a shift toward greater domestic participation in large-scale resource development, traditionally dominated by foreign firms.
Leaders call investment a turning point
Addressing the signing ceremony, former federal minister Gohar Ejaz described Balochistan as a province rich in untapped mineral resources and said increased local investment would usher in a new phase of development and prosperity.
He said the projects would create employment opportunities, stimulate regional growth and help reshape Pakistan’s economic outlook.
Moreover, Ejaz stressed that strengthening local investment was essential before attracting larger volumes of international capital. He pointed to examples such as Barrick Gold while noting that Pakistani companies were now stepping up to invest in the mining sector themselves.
Economic impact and future outlook
Ejaz termed the new investments a “game changer” for Pakistan’s economy, saying the minerals sector could become a key driver of growth if supported by consistent policies and infrastructure development.
Analysts say the growing role of domestic investors in mining could improve project continuity, reduce political risk and accelerate development in resource-rich but economically lagging regions such as Balochistan.
