Copper exploration: Rs10.741bn NWD project given single entity EPZ status by ECC

ISLAMABAD: The Economic Coordination Committee (ECC) has given status to a project worth Rs10,741 million in North Waziristan District (NWD) of FWO as a single entity export processing zone for copper exploration, processing, and export.

Ministry of Industries and Production moved the summary and the ECC on Wednesday decided that the mineral lease located in Muhammad Khel for an area of 30 sq kms (ML-30) and an exploration lease located at Manzar Khel for an area of 101 sq kms (EL-101) be declared as NWD single entity export processing zone under Section 2(k) of the EPZA Ordinance 1980.

Degan Exploration Works (Private) Limited (DEW) is the subsidiary of Frontier Works Organization (FWO) which would execute the project of North Waziristan District (NWD) Khyber-Pakhtunkhwa and two land lease ML-30 and EL-101 (together as single zone).

Profit sharing among the stakeholders is DEW (50 percent), MDD (10 percent), Quoam Commission (18 percent), and CSR (22 percent). Saindak and Daddar are single Entity Mineral Sector EPZs under the EPZA Ordinance.

Both tracks of land are adjacent to each other and are located 35 km from Miran Shah in Boya, North Waziristan District. NWD surrounded by tall mountains is rich in mineral resources especially metal minerals (copper)

In future, a beneficiation plant of 3000 MT capacity will be established on the pattern of ML-30 and produce will be exported. A smelter will also be installed for further value addition.

All infrastructure, security and utilities had been provided to the project area by own resources of DEW/FWO. The project is 100 per cent indigenous and already contributing scientifically towards the socioeconomic development of the area through CSR, employment generation, and building of social infrastructure.

The NWD is a war-torn region and mineral sector activities will bring peace, prosperity, and development in the area. The NWD is rich in mineral/metal mineral and there is a need to facilitate and promote the mineral sector activities in the area.

Copyright Business Recorder, 2023