Re: Pakistan discovers huge reserves of copper, silver, gold and iron
Well, in last era, dr Samar Mubarak got us all talking about gasification of Thar coal reserves and that the value of thar coal reserves is more than the oil reserves of Gulf states...haven't heard what happened after the gasification experiment? Anyone any idea? Same happened to gold reserves in Balochistan...in 1985 it got discovered and till now of no benefit to anyone...and this time it is, iron-ore, copper and gold... Wait till dust settles and see what happens...only good or positive thing is, it is in Punjab and if the news is true, then there is possibility of steel mill, or something which benefit the people...
Right now, I am planning to go to Chinnoit and buy myself a piece of land with lots of iron and gold and copper in it...
[TABLE=“class: media media–stretch one-whole palm–one-whole, width: 694”]
Initial estimates indicate discovery of 500 million tonnes of iron ore. -Reuters/File Photo
LAHORE: Pakistan on Wednesday said it has discovered major reserves of iron ore as well as copper, silver and gold in its central province of Punjab.
The reserves were found in Chiniot, around 160 kilometres northwest of Lahore, by Chinese group the Metallurgical Cooperation of China.
A senior provincial administrative official told AFP that initial estimates indicated 500 million tonnes of iron ore, a primary ingredient in steelmaking, had been discovered.
He said the Chinese company has expressed interest in setting up a steel mill on the site, adding that the extracted iron had been tested in Swiss and Canadian laboratories, which found 60-65 per cent of it to be high grade.
The official added that silver, copper and gold samples would also be sent for testing soon.
Speaking at the site on Wednesday, Prime Minister Nawaz Sharif said the discovery could help Pakistan’s stuttering economy turn a corner and end its “begging bowl” culture.
“It is Allah’s blessing that under the lush green fields rich deposits of copper, iron and gold have been found, which will help the country get rid of the ‘begging bowl’ for good,” Nawaz said.
Conflict, instability, corruption and a chronic energy shortage have hampered Pakistan’s economy for years. The IMF granted a $6.6-billion loan to Pakistan in September 2013 on the condition that it carry out extensive economic reforms, particularly in the energy and taxation sectors.
Re: Pakistan discovers huge reserves of copper, silver, gold and iron
With the amount of reserves, I have heard, we have discovered of different fuels (coal, copper, gold, gas etc etc) in last 20-30 years, we should be the wealthiest nation on the face of the planet with our energy needs for next 200 years covered and state bank reserves full of gold bricks but it has not changed the life of SINGLE COMMON MAN. I have STOPPED believing on these news. There are just 2 ways about it
1) Either these are just exaturated numbers/lambi-lambi
2) Or all of our politicians (across the board), all govt servants, judiciary etc are incapable/corrupt of umpteen degree.
I will only start believing these news only when common man start getting some fruit of these
Re: Pakistan discovers huge reserves of copper, silver, gold and iron
Having the reserves is very different from accessing them or having the reserves for it. Take oil as an example and specifically the case of Libya and Iraq.
Re: Pakistan discovers huge reserves of copper, silver, gold and iron
Exactly. So don’t tell a hungry man about all the aata that cant be used to cook a roti. Did you read about NS and SS speech on “inauguration of reserves” It was as if dinner will be served on gold plated cutlery
Re: Pakistan discovers huge reserves of copper, silver, gold and iron
Its no different than the supposed benefits of the Keystone Pipeline. Everybody does it. More so they will establish a refinery/factory which should help.