Not only major reserves of Iron Ore but Copper, Silver and Gold has also been discovered,

Said Pakistan on Wednesday in its central province of Punjab.

The reserves were discovered in Chinning, around 160 kilometer
ers northwest of Lahore. A Chinese group the Metallurgical Cooperation of China claims to be the discoverers .
A senior provincial administrative official enlightened AFP that initial estimates indicated 500 million tonnes of iron ore, a primary ingredient in steel making, had been discovered.
He reported that, "the Chinese company has shown interest to establish a steel mill around the site, adding that the extracted iron had been approved in Swiss and Canadian laboratories, which is found to be consisting on 60-65% of high grade material.
The official includes that Silver, Copper and Gold samples would also be sent for testing soon.
Prime Minister Nawaz Sharif speaking at the site on Wednesday, said the discovery could help to boost Pakistan's stuttering economy turn a corner and end its “begging bowl” culture.
“It is Allah's grace that such High grade deposits of copper, iron and gold have been discovered under the lush green fields, which will assist the country get rid of the 'begging bowl' for good,” Nawaz said.
Conflict, instability, corruption and a chronic energy shortage have ruined Pakistan's economy. The IMF granted a $6.6-billion loan to Pakistan in September 2013 on the condition that it carry out extensive economic reforms, particularly in the energy and taxation sectors.


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