By Zafar Hussain

BEIJING, May 26 (China Economic Net) - Pakistan’s Deputy Head of Mission at Pakistan Embassy in Beijing, Bilal Mahmood Chaudhary, emphasized the transformative role of mining cooperation under the China-Pakistan Economic Corridor (CPEC) during his keynote address at the 4th Asia Mining Innovation and Development Summit in Beijing on Sunday.

Chaudhary underscored Pakistan’s vast mineral wealth, including 186 billion tons of coal reserves, over 5 million tons of copper, and 400 tons of gold at the Reko Diq mine, alongside 500 million tons of iron ore. “These resources position Pakistan as a pivotal player in regional industrial growth, particularly under CPEC 2.0, which prioritizes value addition and downstream processing,” he stated. Highlighting the alignment of China’s advanced mining technologies with Pakistan’s resource base, he noted that CPEC’s upgraded phase aims to foster “mutually beneficial partnerships” in line with the Belt and Road Initiative (BRI).

The deputy head referenced recent milestones, including the $2.3 billion railway project linking mining hubs to Gwadar Port—a CPEC Phase II initiative set to expand the port’s capacity to 2 million tons annually by 2030. He also cited flagship projects like the Saindak Copper-Gold Mine, operated by China’s MCC Group, and the Duddar Lead-Zinc Mine in Balochistan, which achieved a peak output of 500,000 tons in 2019 under China Huaye Group. These ventures, he said, exemplify “win-win collaboration” through job creation and technology transfer.

To streamline investments, Chaudhary outlined Pakistan’s policy reforms, including the National Minerals Harmonization Framework 2025, which offers tax incentives and expedited licensing under the Special Investment Facilitation Council (SIFC). “Our goal is to transform mineral wealth into industrial growth and human development,” he asserted.

Shaikh Muhammad Shariq, Vice President of the National Bank of Pakistan, echoed these sentiments, stressing the financial sector’s commitment to supporting mining ventures. “CPEC-driven projects are unlocking new avenues for sustainable financing, ensuring that infrastructure and energy initiatives align with long-term economic resilience,” he remarked.

The summit concluded with a call for deeper Sino-Pakistani collaboration, building on President Asif Ali Zardari’s February 2025 visit to China, which reaffirmed mining as a strategic priority. As Bilal Chaudhary stated, “Our iron-clad friendship will shine brighter through innovation and shared prosperity.”