The long-standing issue of iron, copper, and gold reserves discovered in Chiniot remains unresolved, as the German company responsible for evaluating the deposits has yet to submit its report to the Punjab government, even after nine years.
The valuable reserves were discovered in 2015 during the tenure of then-Chief Minister Shehbaz Sharif. To verify the reserves, assess their quantity, and determine extraction methods, the German company Fugro was assigned the task. However, after the end of the PML-N government, the matter was taken up by NAB, leading to legal complications and delays in the project.
Due to the halt in work and NAB’s involvement, the project costs have significantly increased, according to the German company. It has now been suggested that the Punjab government pay PKR 560 million to obtain the final report.
Sources confirm that the Punjab government has made this payment to secure the long-awaited report. Experts estimate that the Chiniot reserves could be worth around $2 billion globally. Once the final report is obtained, the Punjab government plans to conduct an international auction for mining rights.
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