Overview (Vision, Mission, Objectives)
- To identify Mineral deposits in the country that will allow PMC to seize strategic purchasing opportunities in Punjab as well as other Provinces for a consistent supply of coal to power plants.
- To provide the platform for consummation of the iron ore studies.
- Build up its resource capability as competitive strength and asset.
- In coordination with the Directorate General of Mines and Minerals identify Punjab’s minerals that can be strategically exploited and value added.
- Marketing and trading of subject minerals for value addition and build a solid base for viable economic existence of downstream industries.
- Establish best trading options and practices for subject minerals and create economically viable supply chains and business networks.
- Identify import options (exercised by downstream industries) high grade minerals for their mixing with the local minerals and generate higher value upstream at the mineral end and add strength to the operational capabilities of downstream industries.
- Continually adapt the organization of the company to the dynamics of subject mineral industries and develop core competencies for fulfilling strategic challenges.
- Become a business partner (on behalf of the GoPb) in a joint venture of Public-Private-Partnership mode.
The Punjab mineral company (Pvt.) Ltd. Was incorporated under Companies Ordinance 1984 with Securities and Exchange Commission of Pakistan on 07.05.2009. It is wholly owned by the Government of the Punjab and is working under the administrative control of Mines & Minerals Department. The company was established for Promotion, Exploration, development and economic exploitation of the minerals in Punjab. It is administered by the Board of Directors appointed from Government as well as from private sectors in accordance with its Memorandum and Article of Associations and Companies Ordinance 1984.
The Punjab Mineral Company is entrusted to promote and develop the province’s mineral resources. This will be achieved through sustainable exploration, development and exploitation.
The promotion and enhancement of the value addition curve for mineral products will drive secondary and tertiary tier industrial sectors and stimulate the attraction of indigenous and international investors.
The backbone of value addition process is our Institutional Restructuring of Mines & Mineral Department & its affiliated organizations, which aims at making it the best natural resources agency in the country. The initiative is aimed at creating an investment friendly framework in line with best international practices. This will help create greater opportunities for businesses by redesigning how we deliver our services.
The Government is focused on providing an investment environment that is internationally competitive and provides a high degree of investor certainty. Consequently, the company is working on development of Coal Pricing Framework and Underground Coal mining Survey. Both the initiatives are aimed primarily at promoting use of local coal in power generation. The first is aimed at providing a level playing ground between tariff and raw material price & the second at validation of available coal resources to support sustainable operation of the projects under consideration.
In order to shape up new assets the company is engaged in selection and hiring of international contractors and consultants for major resource exploration and estimation carried out by the Punjab Government, in order to ensure that work is done as per international standards & is acceptable to investors.
Further, phase one of exploration and resource estimation of iron ore & associated minerals in Chiniot Rajoa has completed. In order to commercially exploit the iron, resource the company has undertaken assignment of Feasibility study and selection of concessionaire/ investor(s) for iron ore & associated minerals mining and establishment of steel mill in Punjab, Pakistan. Successful outcome of this venture will be a milestone in metallic minerals mining & processing in the province of Punjab.
Further, phase two of exploration and resource estimation has also been initiated, for which the company has been entrusted to explore the whole of Punjab. In order to further strengthen the business case of large scale steel mill in Punjab the company is aiming at exploring iron resources in Chiniot.
The company is not only revamping its board of directors to engage people from business and mines & mineral sector, but also in the process of recruiting quality technical staff from private sector, which will in the long run form the basis of providing a platform for indigenous human resource and technology leading to increase in operational efficiency at reduced cost.
The Punjab’s mineral resources will contribute to the province’s rapid growth economy and will attract the best minds, technology and practice.