ISLAMABAD: Copper plays a vital role in sustainable development. It is the second best electricity conductor after silver. Pakistan can generate a handsome revenue from its generous deposits of this metal.
Assistant Director at Geological Survey of Pakistan (GSP) Yasir Shaheen shared these views during a discussion with WealthPK.
“The largest deposits of copper and gold are found in Reko Diq, Saindak, Koh-e-Suleman, Dasht-e-Kain, Bancha, Koh-i-Sultan, etc. Reko Diq is the 4th largest world-famous gold and copper deposit. It is an extended volcanic caldera,” Yasir Shaheen said.
“The deposits found in Chagai are of unique nature, as they are not in form of a cluster of mineral veins but solid mountainous deposits. Although the grade of copper found here is about 0.38, not too high, it is generous in quantity. Chagai is a tier one deposit which means it consumes only 25% cost, while profitability ratio is 75%.,” he continued.
“Total prospects of Chagai are 22 in an area of 100sq km of which only four are operational, while 50 to 55 places are marked, which are not officially announced as deposits. It means, if from four prospects, we boost one of the largest mines, then how much economic benefit Pakistan will get from all others,” said Yasir Shaheen.
Moreover, he said the government must focus on processing the minerals under its control as a state-owned property. Self-capacity building will help decrease the level of unemployment on a large scale. Self-mining will provide a sustainable livelihood to people related to this sector. It is not an expensive enterprise which cannot be handled at the official level. Only the focus and proper strategic sustainable policy is needed.
Copper is used in the manufacture of tools, electronics, electricity generation equipment, heating elements, internet lines, renewable energy units and as an anti-corrosion coating material. It is highly recommended more than other metals in many energy-related projects.
The share of copper in industrial machinery and equipment manufacturing is 7%, in manufacture of consumer and general products 10%, in transportation equipment 16%, and in production of electric and electronic products 21%. It is also used to fashion artifacts and other articles of domestic use.
As Pakistan is rich in copper deposits, it is important to market it after processing. A well- woven geological sources mining policy can help pull Pakistan’s economy from the hot water. Same in the way, a proper policy will also help generate employment opportunities for sustainable livelihood of people related to the mining business.
In addition, Pakistan can earn sizable foreign exchange and generate more revenue through value addition to the mined raw copper.
