Pakistan’s Chief of Army Staff, General Asim Munir, has laid out a bold vision to transform Pakistan into a developed nation within the next five to ten years. In an interview with Daily Jang, Munir stressed that the country’s path to economic revival lies in Balochistan’s rare earth reserves. According to him, these resources have the potential to rescue Pakistan from its deepening debt crisis.

“From next year, there will be a net profit of two billion dollars every year from Reko Diq, which will increase yearly,” Munir reportedly stated, describing the project as a “national treasure” capable of reshaping debt-ridden Pakistan’s financial future.

What do we know about Reko Diq?

Reko Diq, a small town in Balochistan, sits atop one of the world’s largest undeveloped copper and gold deposits. The site is part of the Tethyan Magmatic Arc, a geological belt rich in ore. Reports suggest that once operational, the project could yield 200,000 tonnes of copper and 250,000 ounces of gold annually.

Production is projected to begin by 2028, but Munir has insisted that Pakistan will start to see profits from next year, with an expected $2 billion in net gains that will grow over time. This claim, however, raises questions, given that the project is still under development and subject to both technical and political challenges.

What Balochistan leaders said?

Munir’s remarks have drawn criticism from Balochistan. Mir Yar Baloch, a prominent figure in the independence movement, rejected Pakistan’s claims over the province’s mineral wealth.

In a post on X, he declared, “The sixty million people of Balochistan once again wish to remind Pakistan and the international community that the mineral wealth found in Republic of Balochistan does not belong to an artificial state of Pakistan that has existed for merely seventy-seven years, but to the Baloch nation, whose history and presence span over ten thousand years.”

While Islamabad views Balochistan’s resources as critical to national survival, many Baloch activists see them as symbols of exploitation and argue they should be controlled by local communities.

Global minerals race

Munir’s timing is not accidental. Rare earth minerals have become a strategic asset in the geopolitical contest among major powers. China currently dominates both production and refining, but Beijing’s recent restrictions on exports to the United States have disrupted global supply chains. Industries from electric vehicles to defence technologies have been affected.

India, heavily reliant on Chinese imports, has also faced setbacks. New Delhi is rolling out a Rs 5,000 crore scheme to boost domestic production in a bid to reduce dependence on Beijing. Against this backdrop, Pakistan is attempting to pitch itself as an alternative supplier.

US and China factor

Munir has already sought to position Pakistan within Washington’s mineral security strategy. Earlier this year, he held discussions at the White House with US President Donald Trump, where Balochistan’s resources were reportedly on the agenda.

Washington, wary of overreliance on China, has shown interest in partnering with Islamabad. US Secretary of State Marco Rubio, in his Independence Day message to Pakistan, expressed a desire to “explore new areas of economic cooperation, including critical minerals and hydrocarbons.” A new trade agreement has also been announced with Pakisatn, aimed at reducing tariffs and encouraging American firms to invest in Balochistan’s mining projects.

At the same time, the United States has designated the Balochistan Liberation Army (BLA) as a terrorist organisation, a move that not only aligns with Islamabad’s counterinsurgency strategy but also alienates Balochistan separatist groups demanding independence from Pakistan.

While cultivating US ties, Pakistan cannot ignore its close partnership with China. The China–Pakistan Economic Corridor (CPEC), a flagship project of Beijing’s Belt and Road Initiative, runs through Balochistan, linking Chinese markets to the Arabian Sea via Gwadar Port. Beijing has already invested heavily in the region’s infrastructure and security.