A resources promoter says there can be no covering up recent unrest in Pakistan such as the Marriott Hotel bombing in Islamabad – but these events should not be considered “the norm” or dissuade interested miners from seeking involvement in the opportunities available. Addressing the second day of the 2008 Paydirt Asia Downunder Conference in Perth, Pakistan’s Honourary Investment Counsellor, Colin Roberts, said Pakistan had a mining sector open to foreign investment and foreign equity up to 100% can be allowed. He said Pakistan currrently attracted around $8 billion in foreign investment but needed at least an additional $5 billion alone to develop its mineral and energy resources.

“Pakistan has bedded down a package of attractive incentives and have ratified investment treaties recognised among the global resources community,” Roberts said. He said Pakistan’s four defined minerals provinces were well endowed with copper, gold, iron ore, lead, zinc, chromite, coal, gemstones and industrial minerals. The coal deposits were at least 185,000 Mt.

Efforts were now underway to reinvigorate the Quetta School of Mines and Roberts himself had been contracted by the Government to finalise a new Mineral Agreement in Pakistan. This would be the basis for future foreign investment in the country’s mineral wealth as it would cover key concerns on regulatory issues, infrastructure, fiscal systems and dispute resolution.

“Pakistan has potential for mega mining projects with negotiations already under way for example for a $1.5 billion copper project to produce 72,000 t/y by 2011.”

Mr Roberts said one urgent need for Pakistan’s resources sector is power supply – with the country requiring an additional 20 gigawatts of power by 2020.

“Its energy supply mix is dominated by natural gas (50%) and oil (around 28%) but there is some emerging opportunity for hydro and thermal power to ease this energy supply mix,” Mr Roberts said.

“However, the country desperately lacks expertise in power generation and is looking to countries like Australia to provide input into better exploitation of its coal reserves and designing and constructing power stations.”