Balochistan precious metal reserves stand at $50 trillion

ISLAMABAD: The world’s most expensive metal molybdenum has been recently discovered in Balochistan which has 0.1 million dollars per ton cost and it is used for making the aircraft, said Geological Survey of Pakistan (GSP) Director General (DG) Dr Imran.

He was briefing the sub-committee of the standing committee on petroleum on Thursday. The body met under Senator Fateh Muhammad Hassani.
Imran said molybdenum could be found in the Tethyan Metallogenic Belt which passes through Bulgaria, Greece, Iran, Pakistan and Afghanistan.

GSP has discovered 36 precious minerals in Balochistan which include antimony, aragonite/marble, copper, dolomite, gold, fluorite, gypsum and magnetite.

He said further the cost of these hidden resources is around $50 trillion and Reko Diq has a $1 trillion worth.

Hassani said this metal could be found in Kuh-e-Taftan which was given to Iran by the government in 1960.

Imran said that Sandvik Metal Limited is exploring minerals in this area but GSP discoveries could not be highlighted due to the strict rules.

He added that the GSP has completed 132 projects in the last five years. The institute had spent Rs 298 million development budget in the last fiscal year.

Senator Nisar Muhammad said the government has funded 16 projects in the last five year through PSDP. The country has unlimited resources but the Planning Ministry is not allocating money to discover them, he lamented.

Hassani said the committee would direct the government to increase the budget of GSP, adding that it should work along with Pakistani companies to discover the hidden resources.

The GSP works under the Petroleum Ministry. The organisation is responsible to discover resources through geological, geographical and geochemical research.

Senator Azam Khan Mandokhel said smuggled Iranian petrol and diesel were available across Pakistan. He added 390 filling stations were illegally providing petrol in the country.

Hassani said PSO officials are involved in the admixture of petrol. The committee members showed their annoyance over the PSO MD for not attending the meeting. — Source

1 COMMENT

  1. All calculations and quantum of precious metals as reflected from the survey reports are exagerated. This was pointed out by some responsible officer of P.C.S.I.R relating to Balochistan during his visit to Lahore last month. He further narrated that the ratio of gold from Reko Diq Project is very small, rather a few grams after refining more than 20 tons of raw material. The projects are very expensive and Pakistan cannot afford it out of its current.
    It was also stated that China has shown keen interest in this regard and a 20 members Chinese delegation is conducting survey of the area with full protocol.

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