Pakistan seeks iron ore exploring plants from China
Wednesday, November 21, 2007
ISLAMABAD: Pakistan will import plants and machinery from China to be used in the exploration of iron ore as the authorities in Board of Investment (BoI) are working in this regard.
Sources said here Tuesday, the BoI has written a letter in this regard to the Chinese authorities
“The private sector that is working in exploration of iron sector will import plants and machinery and the government has contacted Chinese authorities in this regard,” an official said adding that iron ore has become very important with the rising demand of steel in the country. While talking about the iron ore potential in the country, the official said that the country has over 780 million tons of iron ore spread in Punjab, North West Frontier Province (NWFP) and Balochistan and private sector is working to explore the reservoirs.
Pakistan iron ore contained 35 percent of iron and in China, the iron ore had also 35 percent iron. “Therefore, the machinery and plants manufactured by China can also work in Pakistan,” he said adding that Pakistani private sector had also agreement with Indian privates sector to import plants worth over $300 million.
A high level official in the BOI had also visited China to review the situation to import plants for Pakistani private sector, he said and added the government officials were providing guidelines informing them about plants. The official further said that the prime minister has also directed BoI to initiate process for iron ore exploration to build more steel capacity to leverage full potential of ore. He has also directed to develop these reserves to make available for steel production.
The Ministry of Petroleum and Natural Resources is also working to update the feasibility study of Kalabagh iron ore reserves, which is the largest iron ore reserves in the country and could cater to the steel production needs of steel mills.
Following the direction of Prime Minister, the Petroleum and Natural Resources ministry is preparing a comprehensive mining plan in collaboration with the private sector investors,” official added. staff report