Skip to main content

Balochistan’s 20,000 tons of iron ore put on sale



KARACHI: The joint venture firm of Balochistan government and Pakistan Petroleum Limited has put the second lot of 20,000 metric tons of mined iron ore on sale, it was learnt on Friday.Officials...

https://www.thenews.com.pk/print/655976-balochistan-s-20-000-tons-of-iron-ore-put-on-sale

KARACHI: The joint venture firm of Balochistan government and Pakistan Petroleum Limited (PPL) has put the second lot of 20,000 metric tons of mined iron ore on sale, it was learnt on Friday.

Officials said Bolan Mining Enterprises (BME) is selling iron ore on ex-mine basis. BME started mining of iron ore from its mining lease in Pachinko of Chagai district, and this is the second lot put on sale, according to the officials

BME was formed through a joint venture agreement signed on June 1, 1974 between the two for 30 years to mine, grind and market baryte deposits in Gunga near Khuzdar and other minerals in Balochistan.

PPL was designated as operator under the agreement. The agreement was renewed in June 2004 for another 30 years, valid till 2033. Each company shares a 50 percent working interest in the joint venture.

An official said the company planned to further enhance its baryte powder sales through installation of a new grinding mill for value-added sales. Moreover, BME is working towards acquiring other mineral rights.

PPL is evaluating diversification in minerals and energy sectors and is actively pursuing mining activities in lead, zinc and iron ore, the official said.

PPL Chief Executive Office Moin Raza Khan said the company is shifting its attention towards mining, and planned to export zinc and lead from next year.

“There is a gloomy picture if you look at the current oil and gas scenario… We have to diversify into minerals,” Khan told Bloomberg last year. He said the company would run out of petroleum resources in nine years, until new discoveries were made.

Chigendik and Pachinko deposits in Chagai have an estimated reserve of 2.22 and 3.23 million tons of iron ore, respectively.

BME operates two grinding mills for barytes with the total production capacity to 70,000 - 80,000 metric tons barytes annually.

BME holds two mining licences, valid until 2026, in the northwest of Nok Kundi for mining of iron ore. However, mining activities were held up due to litigation on mining lease. Exploration activities for identifying new iron ore prospects in the litigation free area were initiated during 2017/18.

In phase-I, 640 meters of exploratory drilling was done during 2017/18. In phase-II, further geophysical investigations and exploratory drilling of 1,500 meters were planned during 2018/19.

BME recorded production of 261,689 tons of baryte in 2018/19 and posted highest-ever sales of 228,310 tons of baryte ore and powder were recorded in 2018/19, breaking previous record of 206,921 tons in 2017/18.

Considering the demand for commercial sales of iron ore products from Nok Kundi, various studies were undertaken to set up a beneficiation plant. These two areas host about 50 million tons inferred resources

Comments

Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed. Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area” For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number” Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell yo

RWR Advisory: Belt and Road at a Glance

This edition covers developments from March 12 - March 26..  Belt and Road at a Glance   Subscribe to the Belt and Road Monitor Top Developments China National Machinery Industry Corporation, commonly known as Sinomach, has agreed to  build  a $845 million, 255-mile railway across  Iran , building upon a sustained period of growth for Chinese investment in Iran that accelerated after Xi Jinping’s state visit to the country in January 2016. The railway will link the cities of Tehran, Hamedan and Sanandaj. China Civil Engineering Construction, a subsidiary of CRCC, is currently also  building  a 263-km railway line from Kermanshah to Khosravi. According to Chinese entrepreneur Lin Zuoru, who  owns  factories in Iran, “Iran is at the center of everything.”On March 23, China’s Ministry of Commerce announced that foreign direct investment by Chinese companies in 50 Belt and Road countries fell by 30.9% year-on-year. While the Ministry stated that this number covers investment across al

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میں Please help the deserving persons... Salary: Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows; Welder: Rs. 1,700 daily Heavy Duty Driver: Rs. 1,700 daily Mason: Rs. 1,500 daily Helper: Rs. 850 daily Electrician: Rs. 1,700 daily Surveyor: Rs. 2,500 daily Security Guard: Rs. 1,600 daily Bulldozer operator: Rs. 2,200 daily Concrete mixer machine operator: Rs. 2,000 daily Roller operator: Rs. 2,000 daily Steel fixer: Rs. 2,200 daily Iron Shuttering fixer: Rs. 1,800 daily Account clerk: Rs. 2,200 daily Carpenter: Rs. 1,700 daily Light duty driver: Rs. 1,700 daily Labour: Rs. 900 daily Para Engine mechanic: Rs. 1,700 daily Pipe fitter: Rs. 1,700 daily Storekeeper: Rs. 1,700 daily Office boy: Rs. 1,200 daily Excavator operator: Rs. 2,200 daily Shovel operator: Rs. 2,200 daily Computer operator: Rs. 2,200 daily Security Supervisor: Rs.