German consortium signs deal for iron ore project in Pakistan

The Pakistani province of Punjab and a consortium of German companies have signed an iron ore exploration project at the Chiniot-Rajwa deposit. The German consortium GEOS represented by Managing Director Jürgen Hartch and the head of mineral development Arshad Mahmud signed the project. On the occasion of the signing, the Chief Minister of Punjab Shahbaz Sharif was present at the meeting.

The minister welcomed the draft agreement signed between the leadership of the Punjab Mineral Companies and a consortium of German companies. He added that he hopes to ensure a high level of work on the iron ore exploration program, where special assessment of working conditions is needed, which is necessary to assess the workplace of the employee for his safety. The Chiniot-Rajwa project is the most important for Pakistan in developing iron ore mining. The fact is that for the prosperity of the national economy, iron ore is more valuable for Pakistan than gold and oil. Punjab is rich in minerals that you just need to use.

Pakistan has already introduced German technology to the mining industry as well as some industrial sectors. The ministry also plans to strike a deal with a consortium of German companies in the coal industry. Separately, the government and a consortium of German companies signed a memorandum of understanding. Under the agreement, the consortium will ensure the quality standards of the Chiniot-Rajwa iron ore project.

Delegates of German companies, who attended the meeting on the occasion of the signing of the agreement, also assured that there is a high level of iron ore at the deposit and that work on further exploration and production will be carried out quickly. The minister said one hundred welcomes German world-class technology and added that other proposals for cooperation with GEOS would also be considered. The event was attended by the Chair of Planning and other officials.