ISLAMABAD (Big Digit) Pakistan’s mineral potential could position it as a major player in global copper supply: Ali Mukhtar
ISLAMABAD, November 12 (Big Digit): Pakistan’s mining sector contributes less than 3 per cent to the country’s gross domestic product (GDP), despite the identification of 92 minerals, reflecting the gap between its geological potential and the development of its mineral resources. The country currently accounts for less than 0.1 percent of global copper supply, but its share could rise to more than 10 percent through the development of known resources, said Ali Mukhtar, Chief Executive Officer of Globacore Minerals.
Speaking at the Pakistan Minerals Investment Forum 2026 (PMIF26) in Islamabad on Thursday, Ali Mukhtar said the commissioning of the Reko Diq project alone could increase Pakistan’s contribution to global copper supply to around 2 per cent. “If you only talk about the known resources that are in Pakistan, I think we could move up to very optimistically 10% and more, given that we have very limited data that is available today,” he said during a panel discussion on financing early-stage mineral exploration.
Comparing Pakistan’s potential with Chile, which supplies around 25 per cent of the world’s copper, Ali Mukhtar said a significant increase in the country’s contribution could generate substantial export earnings. He estimated that every 100,000 tonnes of processed copper represented potential exports worth approximately $1 billion.
He said the development of the mining sector would require investment not only in exploration but also in infrastructure, skilled human resources, and supporting services. Local businesses, he added, had an important role to play in providing the long-term capital required for mineral exploration.
He said Globacore was established under the Pakistan Corporate Consortium, bringing together businesses with experience across different industries to invest in mineral exploration. The consortium comprises Fatima Group, Arif Habib Group, Lake City Holdings, Hilton Pharma, Soorty Enterprises and DIN Group.
On the company’s activities in Pakistan, Ali Mukhtar said Globacore held four copper exploration licences and two antimony licences, covering approximately 3,000 square kilometres in the Koh-i-Sultan region. Two of its copper licences are being explored in partnership with Mari Minerals. He identified technology and partnerships as key elements of the company’s exploration strategy, particularly the use of advanced geophysical and geochemical surveys to improve understanding of geological formations and identify potential mineral deposits.
The company is also combining geological data to develop three-dimensional models and using artificial intelligence for exploration target generation. “On one hand, you need copper to fuel AI, but then can you use AI to fuel copper?” Ali Mukhtar said, explaining the potential application of artificial intelligence in mineral exploration.
Separately, Nick Winer, Vice President, Exploration at Globacore Minerals, participated in a panel on Pakistan’s next-generation mining projects. Winer, a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), discussed the role of data-led exploration and international standards in identifying mineral deposits and developing projects capable of attracting investment. He also shared his experience of leading teams involved in the discovery of the Nuevo Chaquiro copper-gold deposit in Colombia.
The two-day Pakistan Minerals Investment Forum 2026, organised by the Government of Pakistan and endorsed by the Special Investment Facilitation Council (SIFC), is being held at the Jinnah Convention Centre in Islamabad on November 12–13. The forum has brought together policymakers, international investors, and mining companies to discuss investment opportunities and the development of Pakistan’s mineral sector under the theme “Pakistan: The Next Critical Minerals Destination”.