A joint venture agreement was signed between the Balochistan government and a private mining company for the exploration of fluorite in Loralai district of the province.
The project that will cost Rs3 billion is expected to yield 50,000 tonnes of fluorite annually.
The agreement was signed between the Balochistan Mineral Resources Limited and a private mining company for the joint exploration of fluorite deposits in the Mekhtar area of Loralai district.
There are reportedly 1.6 million tonnes of fluorite reserves in Balochistan. Initially, a survey on two leases is going on.
The project is expected to yield 50,000 tonnes of fluorite annually, which will be used in the production of steel and other products. Out of the project, the provincial government will get 5% of the profits.
Balochistan Mineral Resources Limited Chief Executive Officer Saeed Ahmad Sarpara said the project will not only contribute to Pakistan’s economy and development, but also generate employment opportunities.
Lasbela Chamber of Commerce president and representative of Platinum Mining Company Ismail Sattar said their company was working on many mineral projects.
He said that methodized mining is being done for the first time to find fluoride, mapping has been completed and mines are being built in the second phase so that fluoride can be extracted easily in a phased manner.