ISLAMABAD: Pakistan can save its foreign exchange and reduce the import bill by exploring and processing the local reserves of iron ore, which are sufficient to feed its steel mills.
The indigenous sources of iron ore can meet at least 47 percent of Pakistan steel’s demand to feed the blast furnaces and save foreign exchange. However, proper attention has not been paid to the exploration of iron ore reserves in the country.
Muhammad Yaqub Shah, Principal Geologist in Global Mining Company and former general manager of geology in Pakistan Mineral Development Corporation (PMDC), told WealthPK Pakistan imported iron ore worth $4.59 billion in the year 2021.
Iron ore is found in Kalabagh, Chiniot, Nok Kundi, Dilband, Mashki, Dammer Nissar, Chitral, and many other areas in Pakistan.
The viability of iron ore of more than 50 percent is necessary to feed the steel mills.
The commonly found ratio of iron in Pakistan is around 30 to 32 percent but the grades can be improved by proper processing.
Muhammad Yaqub Shah said that reserves of iron ore in Chiniot possessed viability of 50 to 70 percent. He said that studies proved that only the Nok Kundi iron ore reserves were sufficient to fulfil 47 percent of Pakistan Steel Mills’ demand. He said that 69 to 86 percent of iron can be extracted from the Mashki iron ore deposit in Chagai. Small iron ore reserves like that in Zard Koh and Kulli Koh Zard Koh can also prove cost-effective.
Chiniot iron ore reserves in Punjab have more than 250 million tonnes of minerals, consisting of iron, copper and gold. Its iron meets specifications of metallurgical grade and is well suited to feed the steel mills in all aspects.
Kalabagh in Punjab is considered to have about 300 million tonnes of iron ore, containing 9 to 50 percent iron with an average grade of 30%. It is a large deposit with varying grades both in terms of mineralogy and chemical composition.
Dilband in Balochistan has 250 million tonnes of iron ore and its iron oxide content varies from 54.03 to 63.66 percent. –INP
