THIS is with reference to the article ‘Mining dynamics’ (May 4). Years ago, Saudi Arabia had started the process of diver- sifying its revenue stream, moving beyond its dependence on fossil fuel. One of the gold mines in the kingdom was not found feasible at the time, but with the rising price of gold globally, there have been occasions to reconsider the feasibility. Pakistan needs to chart its course with due diligence.

However, it is important that Pakistan should not rely on one source to establish a monopoly over the country’s mining reserves. It should rather explore various options to serve the best interest of Pakistan. Decisions in desperation due to the country’s economic crunch can be devastating.

With the mineral sector falling within the ambit of the 18th Amendment, the provinces should build their own capacity for geological and geophysical studies, leading to the extent of feasibility studies. Moreover, such projects should be advertised internationally and each one be given to the company that gives the best offer and has the potential as well as proven financial and technical capacity to carry out the project. The bidders should have on-ground activities already in the mining sector in other parts of the world.

It is necessary that the hidden wealth of the country should be protected and optimised keeping the best interest of the provinces, the country, and, indeed, the local population inhabiting the land for centuries. An impartial playing field across the whole process is essential.

Abid S. Mustikhan
Former Project Director,
Saindak Copper-Gold Project,
Karachi

Published in Dawn, May 16th, 2024