Punjab government and a consortium of German companies struck an agreement on Thursday under which the consortium will ensure a high standard of work on the project of iron ore exploration at Chiniot-Rajwa and also conduct resident supervision. Secretary Mines and Minerals Dr Arshad Mehmood and Managing Director of the German consortium, GEOS Dr Jurgen Hartsch signed the agreement. Punjab Chief Minister Muhammad Shahbaz Sharif was the chief guest on the occasion.

The Chief Minister said that the agreement will help ensure a high standard of work the iron ore exploration project which is a project of immense importance for Pakistan. He said iron ore reserves in the said area are no less valuable for Pakistan than oil and gold. He said that Punjab is rich in mineral wealth which can be utilized for strengthening national economy. He said that German technology is established in mining as well as other sectors. He said that cooperation with the consortium of German companies in coal mining sector should also be considered. German delegation said that a high standard of work on iron ore exploration project at Chiniot-Rajwa will be ensured.