Islamabad(The COW News Digital)Kazakhstan’s Elaman Group has pledged an immediate investment of $20 million in placer gold mining projects in Gilgit-Baltistan, signaling strong foreign interest in Pakistan’s mineral sector.
According to a statement issued by the Investment Board, Federal Minister for the Board of Investment, Qaiser Ahmed Sheikh, held a detailed meeting with the Elaman Group delegation to discuss investment opportunities in Pakistan’s mining sector, with a focus on gold exploration and development in Gilgit-Baltistan.
The federal minister warmly welcomed the delegation, appreciating their deep interest in the country’s mineral potential. During the discussions, the Elaman Group confirmed its commitment to investing $20 million immediately and indicated the possibility of further investments in future phases of the projects.
The delegation highlighted that preliminary studies in the Gilgit-Baltistan region have already been completed, confirming significant potential for placer gold exploration and development. They also informed the minister about plans to introduce advanced mining technologies in collaboration with Chinese partners, aiming to ensure efficient, sustainable, and environmentally responsible mining practices.
Federal Minister Qaiser Ahmed Sheikh, accompanied by Board of Investment Additional Secretary Zulfiqar Ali, assured the delegation of full facilitation at both federal and provincial levels. This includes regulatory support, liaison with relevant authorities, and assistance through the Board’s one-window facilitation system.
The minister emphasized that such foreign investment is highly welcome, as it contributes to economic growth, job creation, and regional development. In addition to mining operations, the Elaman Group expressed commitment to corporate social responsibility initiatives, including local employment, skills training, and social welfare programs to benefit surrounding communities.
Analysts say the announcement underscores the growing potential of Pakistan’s mineral sector, particularly in Gilgit-Baltistan, which has long been recognized for its rich deposits of gold and other minerals. The entry of foreign investors like Elaman Group is expected to catalyze further exploration, introduce modern technology, and enhance sustainable mining practices in the region.
With immediate capital investment and long-term development plans, Elaman Group’s engagement reflects the strategic importance of Gilgit-Baltistan’s mineral resources and the Pakistani government’s efforts to attract responsible foreign investors to support economic and regional development.
