ISLAMABAD: Pakistan has launched a $150 million minerals processing complex in Punjab province, aiming to reduce chemical imports and expand mineral-based exports, state media reported on Thursday.

The initiative is being facilitated through the provincial government of Punjab and Pakistan’s Special Investment Facilitation Council (SIFC) — a powerful civil-military body established in 2023 to fast-track foreign investment in key sectors such as mining, agriculture, energy, and information technology. The council brings together civilian ministries, the military, and provincial governments to streamline decision-making and reduce bureaucratic delays in large-scale projects.

The new complex — which will be executed in collaboration with Pakistan Anfal Cement, a subsidiary of Habib Rafiq Limited — is part of Pakistan’s push to attract foreign investment into its underdeveloped mineral sector. The project is expected to save Pakistan approximately $2.9 billion annually by substituting chemical imports and will create new export opportunities for processed minerals, including rock salt.

“The project will... open new opportunities for the export of key chemicals, including rock salt,” Radio Pakistan reported.

With global demand rising for critical minerals, Pakistani officials hope such partnerships such as the one with Anfal will help transform the sector from a largely extractive industry into one that generates jobs, revenue, and export earnings through processing and value addition.

Pakistan holds untapped mineral reserves worth an estimated $6 trillion, including copper, gold, lithium, coal, rock salt, and iron ore. Despite this, the sector contributes just 3.2 percent to GDP, and mineral exports account for less than 0.1 percent of global trade.

The country produces around 68 million tones of minerals annually, yet value addition remains minimal, with most raw materials exported without processing. Notable reserves include the massive Reko Diq copper and gold mine in Balochistan, which is being developed by Canada’s Barrick Gold in partnership with Pakistani state entities.

Pakistan also hosts the world’s second-largest salt mines, significant coal reserves in Sindh’s Thar region, and emerging lithium deposits in northern Gilgit-Baltistan and Khyber Pakhtunkhwa.

In April, Pakistan hosted its first Minerals Investment Forum, where the government unveiled the National Minerals Harmonization Framework 2025, intended to streamline licensing, regulation, and investment facilitation in the extractives sector.