Pakistan’s Mining Sector Growth Could Reach $8 Billion by 2030
Pakistan’s mining sector growth is entering a decisive phase, with projections showing a jump from the current $2 billion in annual revenues to between $6–8 billion by 2030. The opportunity lies in harnessing vast mineral reserves that remain largely untapped, according to industry leaders.
Shamsuddin A. Shaikh, CEO of National Resources Limited (NRL), shared this vision during his keynote at the Natural Resources & Energy Summit 2025 in Karachi. He emphasized that although Pakistan contributes just 0.15% of global mineral output and 2–3% of GDP, it holds 92 known minerals, of which nearly 90% are unexplored.
Key Mining Projects Driving Growth
Several mega projects already underway are expected to transform Pakistan’s mining landscape:
- Reko Diq: Estimated to generate $4–5 billion annually
- Siah Diq: Could add $1–2 billion per year
- Thar Coal Expansion: Projected revenue of $200 million
- Barite, Lead & Zinc: Expected $100 million annually
Combined, these ventures could add billions to Pakistan’s economy within five years. Beyond 2030, copper and gold exploration in Chagai could bring an additional $5–10 billion yearly, reinforcing mining as a cornerstone of economic growth.
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Economic and Social Benefits
Shaikh stressed that responsible mining can deliver more than financial gains. Mining development can:
- Generate thousands of new jobs
- Improve housing and healthcare in remote areas
- Boost education in resource-rich regions
- Strengthen energy security and foreign exchange reserves
Muhammad Sohail Tabba, Chairman of Lucky Cement and Lucky Core Industries, highlighted how mining could uplift rural provinces, creating long-term prosperity and peace.
Role of Insurance and Risk Management
Speakers at the summit also underscored the importance of insurance in sustaining billion-dollar mining projects.
- Hassan R. Muhammadi, Founder of Fidelity Insurance Brokers, called mining and energy “engines of growth” that require robust financial protection.
- Khurram Ali Khan, CEO of Fidelity Insurance Brokers, stressed that “insurance provides the safety net that keeps projects moving and investors confident.”
Challenges Ahead for Mining Sector Growth
Despite massive potential, experts warned of obstacles that need urgent attention:
- Inconsistent government policies
- Weak regulatory frameworks
- Shortage of skilled human resources
- Climate and environmental risks
To overcome these hurdles, Pakistan must adopt technology, innovation, and strong governance to ensure mining growth translates into sustainable national development.
The Way Forward
The Natural Resources & Energy Summit 2025, themed “Powering Progress: Risk, Resilience, and Innovation in Energy and Emerging Resource Sectors,” brought together policymakers, investors, insurers, and international experts. The consensus was clear:
- Align government policies with investor confidence
- Mobilize local and foreign investment
- Focus on sustainable and responsible mining practices
- Leverage advanced technologies like artificial intelligence
“This is Pakistan’s moment,” Shaikh concluded. “If we unlock our mineral wealth responsibly, the mining sector can become a $10 billion-plus industry, fueling economic stability and pride for the nation.”
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