Billion Dollars Tressures in Chiniot

ISLAMABAD: The Punjab government has successfully explored and documented a treasure trove of iron ore and copper in Chiniot comparable, if not greater, than Reko Diq, worth hundreds of billions of dollars.

 The unimaginable resource was found through the technical services of Chinese, German, Swiss and Canadian mining experts.“The Punjab government has secured 500 million tons of shipment grade iron ore in Chiniot-Rajoa. Initial results of the scientific geological studies have also shown substantial copper reserves,” a senior official told The News.

The experts recommended focusing more on excavating copper ore as the metal fetched a much higher price than iron in the international market – copper is currently being sold at $5,000 per ton, compared to $100 per ton iron fetches in the international market.

According to authorities they estimated thousands of tons of mineral deposits were present in Rajoa. They said even though studies were currently being conducted in just 28-square-kilometre area, initial findings suggested there was a high probability that good quality mineral deposits were present in a 2,000-square-kilometre area, which includes the south and southeastern parts of Chiniot city.