ISLAMABAD, May 30: The government is spending Rs1.3 billion on mineral development activities in the country and will formulate a national mineral policy 2006 in collaboration with all stakeholders in order to attract investment, federal Petroleum and Natural Resources Minister Amanullah Khan Jadoon said here on Tuesday.

Mr Jadoon was speaking at an inter-provincial meeting of mineral resources ministers here on Tuesday.

The federal minister said that the country was endowed with immense mineral deposits of coal, copper metals, iron chromites and other metallic and non-metallic resources.

He underscored the need for provincial governments and the authorities in Azad Jammu and Kashmir, Fata and Northern Areas to take correct steps to ensure speedy exploration of minerals.

He said the federal government would extend full cooperation and provide guidelines that would make all mineral projects successful.

Mr Jadoon instructed the director general of the Geological Survey of Pakistan Talib Hassan Mirza to interact closely with the concerned authorities and hold regular meetings with them.

He said that a geo-data centre should be set up in all the provinces as well as in Azad Kashmir, Fata and Northern Areas, in an effort to transmit the required information for identifying mineral potential in the areas.

He said the government would encourage and extend cooperation to prospective investors in mineral projects and draw up guidelines in this regard.

Mr Mirza and the director general of minerals Rashid A. Malik briefed the meeting about the progress achieved in mineral sector development. The meeting was informed that efforts were being made to identify the mineral potential in the respective areas with the available geographical data.