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At present there is a reserve of about 64 tonnes of gold across Pakistan. symbolic image
Ibrahim Hasan Murad, former mining minister of Punjab state in Pakistan, has claimed to have found gold reserves worth 2 billion dollars (17 thousand crore rupees) in Attock city. According to Hasan Murad, gold reserves of 32658 kg (28 lakh tola) have been found in an area of 32 kilometers in Attock.
Hasan Murad wrote in X post on January 10 – This discovery by the scientists of Geological Survey of Pakistan highlights the immense potential of natural resources in Punjab. Geological Survey team of Pakistan took samples from 127 places from this place.
This discovery is an important step towards uncovering Pakistan’s mineral wealth, which opens up new opportunities for future generations while strengthening the country economically.
According to the report of Trending Economics, Pakistan has a gold reserve of about 64 tonnes.
Gold mining is done in 4 stages,
First stage- finding the gold mine
According to the World Gold Council, even after finding gold deposits at some place, one has to face many problems in its mining. This requires time, financial resources and many experts.
Despite initial evidence of gold reserves, the probability of further mining in many of the world’s mines is less than 1%. This is why only 10% of the existing gold mines in the world have enough gold for further mining.
Once it is decided that further mining can be done to extract gold, a detailed model is prepared for it. This entire process may take from 1 to 10 years.
Second stage- Developing the gold mine
Once it is determined that gold can be mined in a mine, the mine is then developed for further excavation. Mining companies apply for permits and licenses before starting the further process. Generally this entire process can take several years, although this time may vary from place to place.
After the paperwork is completed, mining companies develop infrastructure for the workers working here. This entire process may take 1 to 5 years.
Third Stage- Gold Mining
The third stage is the most important in gold mining. Usually found from gold ore. In this stage gold is separated from ore. During this period, many factors like the price of gold in the international market, the cost of mining and the purity of gold affect it.
Due to the development of technology the process of mining has become easier. Mines are now being developed keeping technology in mind. This entire process may take 10 to 30 years.
Fourth stage- closure of the mine
After the mining process is over, it may take 1 to 5 years for the companies to close the mine. This is a very difficult process. During this time, companies close the mine, clean the area and plant trees. The mining company has to monitor the mine for a long time even after the mine is closed.
Why is gold so important?
If a country’s currency weakens internationally, gold reserves help maintain the purchasing power of that country and its economic stability. In 1991, when India’s economy was sinking and it did not have dollars to import goods, it raised money by mortgaging gold and came out of this financial crisis.
Having a lot of reserves means that the country’s economy is strong. It also shows that the country manages its money well. In such a situation, other countries and global financial institutions trust that country more. Gold reserves provide a solid asset to support the currency value of any country.
What is difficult for Pakistan?
Attock city of Pakistan is present on the border of Punjab state. Khyber Pakhtunkhwa state is located nearby, where Pakistani Taliban have been carrying out terrorist incidents for a long time. Apart from this, Afghan Taliban also considers the border from Khyber Pakhtunkhwa to Attock as disputed.
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The world’s largest gold reserve found in China: 1000 metric tons of gold, worth more than 83 billion dollars
The world’s largest gold reserve has been found in Hunan province of China. According to Xinhua News, Pingxiang County of Hunan may have 1000 metric tons of high quality gold. Its value has been estimated at more than 83 billion dollars (Rs 7 lakh crore). Read the full news here…