ISLAMABAD: The Ilaman Group of Kazakhstan has expressed its commitment to invest $20 million immediately in placer gold mining projects in Gilgit-Baltistan.
According to a statement issued by the Board of Investment, Federal Minister for Investment Board, Qaiser Ahmad Sheikh, met with a delegation from Kazakhstan’s Ilaman Group, during which they discussed investment opportunities in Pakistan’s mining sector, particularly the potential for placer gold mining in Gilgit-Baltistan.
The Federal Minister warmly welcomed the delegation and praised their deep interest in Pakistan’s mining sector. During the meeting, the Ilaman Group expressed its intent to invest $20 million immediately in placer gold mining projects in Gilgit-Baltistan, with plans to explore additional investment opportunities in future stages.
The delegation informed that it had already completed initial studies in the region and that there was significant potential for placer gold exploration and development. They also shared plans to introduce advanced mining technologies in collaboration with their Chinese partners, aiming to promote efficient, sustainable, and environmentally friendly mining practices.
Federal Minister Qaiser Ahmad Sheikh, accompanied by Zulfiqar Ali, Additional Secretary at the Board of Investment, assured the delegation of full facilitation at both federal and provincial levels, including regulatory support, coordination with relevant authorities, and assistance through the Board of Investment’s One Window system.
The Federal Minister welcomed such foreign investments, emphasizing that they are crucial for economic growth, job creation, and regional development. The Ilaman Group also expressed its commitment to corporate social responsibility, highlighting initiatives for local community development, including employment opportunities, skills training, and social improvement.
Furthermore, the consultation on joint projects with local partners has already reached its final stages, paving the way for the effective and smooth implementation of the projects in line with Pakistan’s legal and regulatory framework.
The Federal Minister reiterated that under his leadership, the Board of Investment is fully committed to providing complete facilitation to foreign investors and promoting responsible and sustainable investment in Pakistan, aligned with the government’s vision for economic recovery and development.
