A groundbreaking discovery of gold reserves in Punjab’s Attock region has unveiled a potentially transformative economic opportunity. Valued at approximately Rs 600 billion, these deposits remain untapped due to various administrative challenges.
Gold Discovery in Punjab’s Indus River Basin
According to Provincial Minister for Mines, Ibrahim Hassan Murad, the Attock region holds an estimated 2.8 million tolas (32.6 metric tons) of gold. The deposits, stretching over a 32-kilometer area from Attock to Tarbela and Mianwali, were identified by the Geological Survey of Pakistan. Experts attribute the accumulation of gold to the geological activity where the Indus and Kabul rivers meet, with the precious metal becoming more visible during the winter months as water levels recede.
Administrative Challenges Hindering Exploration
Despite the potential of these gold reserves, progress on exploration has been slow. Reports suggest a focus on stone and sand zinc mining, diverting attention from the lucrative gold deposits. Furthermore, the area has seen illegal gold extraction activities, even though Section 144 was imposed to ban unauthorized extraction from the Indus River near Attock. However, enforcement has been minimal, with only a handful of cases registered against violators.
Historical Context and Industry Observations
The challenges surrounding these gold reserves are not new. In 2017, a Chinese company’s exploration efforts ended in controversy due to unauthorized gold extraction, which led to the cancellation of their contract. This incident highlights the persistent obstacles in the development of Pakistan’s mining sector, including regulatory issues and enforcement difficulties.
Conclusion
The discovery of substantial gold reserves in Punjab’s Indus River Basin presents an immense economic opportunity. However, addressing the administrative and operational challenges is crucial to unlock the full potential of these valuable resources. With the right focus, the region could see significant growth and prosperity from its untapped gold wealth.