Gilgit-Baltistan, Pakistan’s northern region known for its stunning mountains and rich mineral resources, has taken a major step forward in mining development.
Kazakhstan’s Elaman Group has announced plans to invest an initial $20 million in placer gold mining projects there. This foreign direct investment (FDI) marks a positive sign for Pakistan’s efforts to attract international partners to its untapped mineral sector.
The announcement came after a delegation from Elaman Group met with Federal Minister for Board of Investment Qaiser Ahmed Sheikh in Islamabad on February 5, 2026.
The company shared that it had already completed preliminary studies in Gilgit-Baltistan. These studies showed strong potential for placer gold exploration and development, gold found in river sediments and gravels, which is often easier and less costly to extract than hard-rock mining.
According to reports from Dawn and The Express Tribune, the Elaman Group plans to start with the $20 million investment right away, with more funding expected in later phases.
They have also finalized discussions for a joint venture with local partners to meet regulatory needs and ensure smooth operations.
Commitment to Local Communities
The Kazakh firm emphasized its focus on responsible mining. It highlighted plans for Corporate Social Responsibility (CSR) initiatives, including local job creation, skills training, and community development around the mining sites.
This approach aims to bring real benefits to people in Gilgit-Baltistan, where employment opportunities are often limited.
Minister Qaiser Ahmed Sheikh welcomed the interest and appreciated the group’s keenness in Pakistan’s mining sector.
The meeting discussed broader opportunities in minerals, aligning with government goals to boost FDI, create jobs, and increase mineral exports.
Why This Matters for Pakistan
Gilgit-Baltistan holds vast mineral wealth, including gold, copper, gemstones, and rare earth elements—estimated by local authorities at trillions of dollars in potential value.
Attracting reliable foreign investors like Elaman Group helps modernize exploration, introduce better technology, and follow international standards. It also strengthens economic ties between Pakistan and Kazakhstan.
This venture is part of a larger push to develop the mining industry, reduce import dependence on minerals, and support regional growth. If successful, it could open doors for more projects and inspire other companies to explore Pakistan’s northern treasures.
As one official statement noted, such collaborations contribute to “economic growth and stronger bilateral ties.” For Gilgit-Baltistan, this $20 million start could mean more jobs, better infrastructure, and a brighter economic future.