ISLAMABAD: Kazakhstan’s Elman Group has expressed its commitment to immediately invest twenty million US dollars in placer gold mining projects in Gilgit-Baltistan.
A statement issued by the Board of Investment said that Federal Minister for the Board of Investment Qaiser Ahmed Sheikh met with a delegation of Kazakhstan’s Elman Group, in which investment opportunities in Pakistan’s mineral sector, especially the possibilities of placer gold mining in Gilgit-Baltistan, were discussed in detail.
The Federal Minister warmly welcomed the delegation and appreciated their deep interest in Pakistan’s mineral sector. During the meeting, Elman Group expressed its commitment to immediately invest twenty million US dollars in placer gold mining projects in Gilgit-Baltistan, while also informing about the possibilities of further investment in the coming phases.
The delegation said that it has already completed preliminary studies in the Gilgit-Baltistan region and that there is significant potential for placer gold exploration and development there. The delegation also informed about the plans to introduce modern mining technology in collaboration with its Chinese partners, which aims to promote efficient, sustainable and environmentally friendly mining methods.
Federal Minister Qaiser Ahmed Sheikh, accompanied by Additional Secretary First, Board of Investment Zulfiqar Ali, assured the delegation of full facilitation at the federal and provincial levels, including regulatory support, coordination with relevant institutions and support under the Board of Investment’s one-window system.
The Federal Minister welcomed such foreign investment, saying that it is very important for economic growth, employment opportunities and regional development. Elaman Group also expressed its commitment to undertake local community development initiatives under corporate social responsibility, including employment for local people, skills training and social upliftment.
It was further informed that the consultation on the joint venture with local partners has already been completed in the final stage, paving the way for the effective and smooth implementation of the project in accordance with Pakistan’s legal and regulatory framework.
The Federal Minister reiterated that the Board of Investment, under his leadership, is fully committed to providing full facilitation to foreign investors and promoting responsible and sustainable investment in Pakistan, which is in line with the government’s vision of economic recovery and development.
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