The fencing, the CPEC, and the gold and copper reserves initiatives –all are expected to usher Pakistan into an era of enduring economic stability, says an expert. “That’s the gripe many countries around have”
We have 12.3 million tons of declared Copper reserves. 21 million ounces of Gold. 175 billion tons of Coal. Yes you read it right, that is “billion” not millions.
We also have 105 cubic trillion feet of Shale Gas. Yes, again you read it right. It’s “trillion” not million or billion. We also have natural resources of 9 billion barrels of shale oil and 4.2 billion cubic feet of gas production per day. (an extract from a WhatsApp post shared with us).
We reached out to a highly reliable source in Islamabad to comment on the above.
His response was, “We have more than 12.3 million tons of copper. Also probably more gold and coal than stated. Unfortunately we have not been able to extract the same yet. But now we are working on these assets. Coal is done. Now copper and gold Insha’Allah”.
The “12.3 million tons of copper (alone) is worth over 81 billion US dollars,” says a professional at an Energy & Power WhatsApp forum.
Two other experts say it could be worth more, as much as US$100 billion.
What about gold and copper’s worth at present market rate?
Gold at US$1929/ounce present rate would be worth: 21 million ounce gold x US$1929 = US$41 billion.
Copper at US$6,565/ounce would be worth: 12.3 million ounce copper x US$6565 = US$81 billion.
Both these precious metals reserves (worth more than US$120 billion) cover vast swathe of desert lands in Balochistan, Pakistan’s western province. It has sunstantial common boundary with Afghanistan and Iran.
The country’s military is fencing the border to keep the bad guys out and eliminate smuggling of goods into Pakistan.
According to a senior Pakistani military official, “the Pak-Afghan border fence will be completed by December 2020. The Pak-Iran border fence will be completed by Dec 2021”. According to him, 70% of the fencing on Pak-Afghan border has been completed, while the Pak-Iran border which commenced in March 2020 is scheduled for completion by Dec 2021.
A source tells DesPardes these resources are just a few of them out there, and the count on gold and copper is conservative. “The worth could be double if not triple”.
The country’s coal reserves majorly located in its southern province of Sindh, particularly in the Thar Desert region have been already tapped for power nationwide. This reserves itself is upward of several hundred billion dollars.
According to one of the experts, Pakistan’s total gold and copper reserve is worth north of US$200 billion in present market. However, future worth of these would be way further north and that is true for their quantities also.
The Pakistan China Economic Corridor (CPEC) infrastructure along with special economic zones around it, is expected to be fully operational in couple of years. “By then the gold and copper reserves would be ready for monetization, if not earlier”, says an observer.
In short, the fencing, the CPEC, and the gold and copper reserves initiatives –all are expected to usher Pakistan into an era of enduring economic stability, says an expert. “That’s the gripe many countries around have”.
The country, because of its location, also faces vibrations from the emerging unhinged geopolitical rivalries in the region. When asked to comment, the military official characterized the situation by sharing this videoclip: