ISLAMABAD: Pakistan and Saudi Arabia have agreed to collaborate in the field of geological surveys through experience sharing and knowledge transfer, the chief of the Saudi Geological Survey said on Tuesday, as Islamabad seeks to tap the potential of the country’s vast natural reserves estimated to be worth $6 trillion. 

Geological surveys, scientific studies that map and analyze the Earth’s geological features, will be a key part of Pakistan’s efforts to tap the underutilized promise of Pakistan’s mineral sector, which despite rich reserves including salt, copper, gold, and coal contributes only 3.2 percent to the GDP and 0.1 percent to global mineral exports. Geographical surveys help to identify mineral deposits, and significantly impact mining by helping to locate, assess, and sustainably exploit mineral resources.

“For the Saudi Geological Survey and Pakistan Geological Survey, yesterday we had a meeting, and we agreed that we will work together to share the experience, transfer the knowledge, the learning, understanding the best practices, which are going to really help both countries in moving forward,” Eng. Abdullah Mefter Al-Shamrani, Chief Executive Officer of the Saudi Geological Survey, told Arab News on the sidelines of the two-day Pakistan Minerals Investment Forum being held in Islamabad. 

“There is good cooperation between the two organizations, [and] it is going to bring great value for both countries.” 

Al-Shamrani said Saudi Arabia had sent a large delegation comprising government officials and private investors to the mineral summit, who had held productive discussions with Pakistani companies.

“We had a great discussion between companies from Pakistan and Saudi Arabia, where they agreed together that they will continue working, exploring and looking for opportunities here in Pakistan and also at the same time for Saudi Arabia,” Al-Shamrani said. 

“Today [Tuesday] we have seen some of the investors in Saudi Arabia, they are asking for permission to go and explore some areas in Pakistan,” he added.

Pakistan is home to one of the world’s largest porphyry copper-gold mineral zones, while the Reko Diq mine in southwestern Balochistan has an estimated 5.9 billion tons of ore. Barrick Gold, which owns a 50 percent stake in the Reko Diq mines, considers them one of the world’s largest underdeveloped copper-gold areas, and their development is expected to have a significant impact on Pakistan’s struggling economy.