Pakistan To Open $5 Trillion Mineral Reserves For Global Bidding, Eyes US, China & Gulf | Exclusive

Pakistan is set to open international bidding for its vast reserves of rare earth elements and minerals, estimated to be worth between $3 to $5 trillion, in a move aimed at attracting large-scale foreign investment from global powers, including the United States, China, Saudi Arabia, the United Kingdom, Türkiye, and the United Arab Emirates.

 

Senior officials told CNN-News18 that preparations are underway to streamline the investment process by transferring all mineral and rare earth sites from provincial control to a single federal authority.

 

This transition, designed to simplify bidding, regulatory approvals, and security clearances, will require a constitutional amendment to override the current framework under the 18th Amendment, which gives provinces control over natural resources. Legislation to facilitate this shift is currently under consideration.

 

The government plans to finalise agreements with foreign investors and consortiums within the next six to eight months. In the first phase of allocations, China will be granted exploration rights in the Gilgit-Baltistan region, while the United States is expected to gain access to mining projects in Northern Balochistan and Southern Khyber Pakhtunkhwa. Negotiations with Saudi Arabia are reportedly nearing completion for the Reko Diq copper-gold mines, one of the largest untapped reserves of its kind in the world. 

https://www.news18.com/world/pakistan-to-open-5-trillion-mineral-reserves-for-global-bidding-eyes-us-china-gulf-exclusive-ws-kl-9502294.html