The Balochistan government’s agreement with Platinum Mining Company (PMC) to develop Pakistan’s first mineral processing unit signifies a monumental step towards realising the immense potential of our mineral resources. This partnership opens doors not only for domestic use but also for exporting valuable products derived from raw materials. By working hand-in-hand, the government and PMC are poised to unlock the value-added potential of these minerals through strategic steps outlined in their joint venture.
The joint venture between the Balochistan government and PMC aims to convert raw fluorite ore into acid grade calcium fluoride, a valuable feedstock for international chemical industries. This process of value addition holds great promise for our nation, as it showcases our ability to transform raw materials into high-quality products that meet global standards. By investing in the establishment of a production facility in Hub, Balochistan, the government and PMC are taking concrete steps towards turning our mineral resources into revenue-generating export commodities.
One of the significant advantages of this joint venture is the revenue-sharing scheme that benefits the government. Through this agreement, the government stands to earn 5% in revenue from the profits generated by PMC. This financial influx can serve as a catalyst for economic growth and development, as it can be channeled into various sectors and initiatives that benefit the province and the country as a whole. The potential for revenue generation makes this collaboration a pivotal gateway towards making our economy more export-oriented.
Additionally, the development of the mineral processing unit and the subsequent extraction activities in the Loralai district hold the promise of transformative changes in the surrounding regions. As mining operations commence, there is an expectation for significant developmental shifts, including infrastructure improvements and job opportunities. The revenue-sharing mechanism benefits the government and provides a financial boost to our economy, while the anticipated developmental changes in the extraction areas promise a better future for the local communities. This strategic collaboration marks the first step towards unlocking the transformative power of our mineral wealth and sets the stage for further growth and prosperity.