Balochistan govt signs agreement for Fluorite exploration

Balochistan: Balochistan government signed an agreement with a private mining company for the exploration of precious fluorite.

The Balochistan government and a private mining company have signed a joint venture agreement for the exploration of fluorite reserves in the district of Loralai, Balochistan.

The project, estimated to cost 3 billion rupees, is anticipated to yield an annual output of 50,000 tons of fluorite.

Under this agreement, Balochistan Mineral Resources Limited and the private mining company will jointly explore fluorite reserves in the Mekhtar area of the Loralai district.

The project is expected to produce 50,000 tons of fluorite annually, which will be utilized in the production of steel and other materials.

The Balochistan government will receive a 5% share from the project.

According to the Balochistan Mines and Minerals Department, instead of exporting raw fluorite, it will be processed into a value-added form in a factory located in the Hub district.

This approach will not only create employment opportunities but also increase Pakistan's foreign exchange reserves. The Mines and Minerals Department reveals that the relevant area holds reserves of around 1.6 million tons of fluorite.

Initial survey work is currently underway in two leases.