ISLAMABAD: National Resources Limited (NRL) Chief Executive Officer (CEO) Shamsuddin said that Pakistan’s mineral sector has the potential to significantly increase its contribution to the national economy, and if the country takes advantage of its vast untapped mineral wealth, its revenue could increase from $2 billion to $6-8 billion annually by 2030.
Delivering a keynote address at the Natural Resources and Energy Summit 2025, National Resources Limited (NRL) Chief Executive Officer (CEO) Shamsuddin A. Sheikh highlighted the sector’s untapped potential, Dawn reported. He said that although Pakistan is located on one of the richest mineral belts in the world, its share is only 0.15 per cent of global mineral production and 2-3% of the country’s GDP, with about 90% of the 92 known minerals in the country remaining undiscovered. Stressing the timely utilisation of these resources, Shamsuddin A. Sheikh warned that foreign companies would seize the opportunity if immediate steps were not taken.
He said that it is time for Pakistani companies and investors to lead through joint ventures and partnerships, and create wealth and employment within the country. He said that the key projects include Reko Diq, which has the potential to generate $4-5 billion annually, Sayyid Diq ($1-2 billion), Thar Coal Expansion Project ($200 million), and Berat, lead and zinc projects ($100 million).
Shamsuddin A. Sheikh said that all these projects are expected to add billions of dollars to the economy in the next five years. Shamsuddin also pointed to the exploration of more copper and gold in the Chagai region, which could generate $5-10 billion annually after 2030. The NRL chief said that investments in Reko Diq and Thar Coal could increase mineral revenues by $6-8 billion by 2030. He stressed that responsible mining can bring significant social benefits, including job opportunities, better housing, access to health facilities and education, especially in underserved areas.
He said that mining is not just a process of extracting minerals, but it is a means of building communities and alleviating poverty. Hassan R. Mohammadi, Founder and Director of Fidelity Insurance Brokers, also addressed the summit and said that the minerals and energy sectors can play a key role in promoting economic growth, improving energy security and earning foreign exchange.
He assured that the insurance sector is ready to provide suitable risk solutions to local and foreign investors. Khurram Ali Khan, CEO of the same company, said that insurance plays a vital role in keeping major projects going. In uncertain circumstances, insurance is the safety net that helps projects move forward and keeps investors confident.
Lucky Cement Chairman Muhammad Sohail Tabba pointed out that mining can bring significant socio-economic benefits, especially in rural provinces. If resource development is coupled with investment in education and capacity building, it can bring prosperity, stability and peace to underdeveloped areas.
However, experts warned that the potential of the sector could be affected if investments in governance, regulation, and human resource development are not made. He said that challenges such as policy inconsistencies and environmental risks need to be addressed wisely, and the use of innovation and technology will be key for this.
The summit, which was attended by policymakers, investors, CEOs, insurance experts and international experts, focused on how the minerals and energy sectors can become central pillars of Pakistan’s economic future. The discussion also highlighted the role of specialised insurance and new technologies such as artificial intelligence that can support these industries.
Shamsuddin A. Sheikh urged both the government and the industry to take decisive steps, saying that this is Pakistan’s moment. With the right policies and local investment, mining can become a $10 billion-plus industry, which will guarantee growth, stability, and national prestige.
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