Minister for Petroleum Ali Pervaiz Malik said on Thursday that the government was working to build a supportive ecosystem enabling companies operating major mining projects such as Reko Diq and Saindak to function effectively in difficult terrains with limited infrastructure. He made these remarks at the Pakistan Business Forum’s session titled Unlocking Pakistan’s Untapped Mining Resources for National Wealth.
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Mr Malik highlighted that one of the biggest obstacles to attracting investors is the constitutional provision that places mineral resources under provincial jurisdiction. This division, he said, complicates investment because companies must navigate multiple legislative frameworks, rules and licensing systems across different provinces.
To address this, the government is attempting to harmonise regulations, standardise ESG and safety criteria, and encourage provinces to adopt a unified structure while maintaining resource ownership.
Federal Minister Ali Pervaiz Malik, MD OGDC,Ahmed Lak & Munib Hussain, London based Partner at international law firm, Milbank had a meeting. Mr. Hussain,who represents Reko Diq project’s financiers, shared positive updates on attainment of financial close for Reko Diq project pic.twitter.com/WYvM0Lpsa4
— Petroleum Division, Ministry of Energy (@Official_PetDiv) November 26, 2025
He added that Pakistan had achieved the country’s single largest private-sector financial close of $3.5 billion for Reko Diq after years of litigation, marking a significant milestone in mining sector development. The minister also clarified that the oft-quoted $7 trillion mineral potential was purely an estimate based on geological assumptions and not a certified or measured resource assessment.
Adviser to the Geological Survey of Pakistan Dr Hamid Ashraf stressed the need to benchmark Pakistan’s fiscal regime against global mining leaders such as Australia, Canada, Indonesia, Kazakhstan, South Africa and Chile. He noted that with six mining policies, eight Acts and 36 sets of rules, Pakistan’s regulatory landscape has long been a maze no investor could easily navigate.
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Reko Diq Mining Company (RDMC) Country Manager Zarrar Jamali said the project was currently in its construction phase, with feasibility studies and environmental assessments already completed. In her concluding remarks, Pakistan Business Council Chairperson Dr Zeelaf Munir said Pakistan’s economic future relies on resilience, reform and strong partnerships, stressing that sustainable progress requires collective effort from all stakeholders.