Recodec Copper and Gold Mining; Issues & Recommendations

Recommendations:

There is no denying the fact that Pakistan has favorable geology for exploration and mining activities, but there is little mineral production in the country, although exploration activities have increased since the introduction of the National Mineral Policy in 1995. Despite its potential, the controversial agreements and casual attitude of public authorities like Rekodiq copper and gold mines issues have made the contribution of mining to the economy quite minimal. Its formal contribution is less than 0.4% of the Gross Domestic Product (GDP) at present but based on the country’s potential, the mineral sector with sufficient capital and a favorable investment climate has the capacity to contribute annual revenues and foreign exchange in the range of $1.5-2.0 billion or 2-3 % of GDP, stimulate secondary and tertiary economic activity, promote growth and provide employment and community development in largely remote regions of the country.

Based on the above findings, it is recommended that the Government must:

  1. Prepare a Mining Law and Regulations based on the National Mining Policy; to protect precious recourses from being mishandled
  2. Review the Mining Fiscal Regime as presented in the Mining Policy Statement; in the context of prevailing controversies.
  • Modern technology needs to be introduced so as to reduce dependency on foreign companies.
  1. Implement Institutional Strengthening and Capacity Building for the Departments of Mines and Minerals, both at the Federal and Provincial levels, to put in place the capabilities needed to implement the National Mining Policy and administer the sector in particular.
  2. Bring improvements to the mining tenement management system and geological information systems;
  3. Prepare and implement key environmental and social measures to ensure adequate environmental protection and social mitigation of mining-related impacts
  • Improvement is needed in the regulatory framework’s attractiveness particularly with reference to private investors for the purpose to enhance its coherence to adequately meet the needs of large mining development projects.
  • Public Mining Institutions face a number of constraints and require capacity building to execute their mandates. However, capacity building for Public Mining Institutions has to be integrated in a broader framework. There is a need for better coordination among government branches – both at the Federal and Provincial level, through joint initiatives like shared information systems.
  1. Lack of infrastructure remains a major constraint to mining development at all levels: roads, railroads, ports, airports, telecommunications, etc. There is a need to take into consideration potential mining developments on Governmental infrastructure planning.

 

 

Bibliography

 

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[1]ShaheenSehbai Publication in the News

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