Islamabad 13 August: Pakistan’s copper exports, almost entirely generated from the Saindak mine in Balochistan, reached a record $842 million in 2024, setting a new benchmark for the project’s output and marking one of the strongest years in its complex history.
According to newly compiled trade data, copper exports rose from $777 million in 2023 to $842 million last year — a milestone in a journey that began with just $14.6 million in exports in 2005. This growth reflects both a steady increase in mine production and the impact of soaring global copper prices over the past decade.
Operated by Chinese contractors since the early 2000s under a lease agreement that has seen multiple extensions, Saindak has often drawn political attention but has remained largely outside public scrutiny. The project’s financial details have been shaped by opaque contracts and closed-door negotiations, limiting broader public awareness of its economic contribution.
Industry analysts note that after a slow start in the 2000s, exports began a steady climb through the 2010s, with output stabilising and infrastructure improvements allowing for more consistent shipments. The real breakthrough came in the late 2010s and early 2020s, when both production efficiency and global demand for copper rose sharply. By 2021, annual exports had crossed the half-billion-dollar mark, and just three years later, the $800 million barrier was breached.
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Copper is a key industrial metal, and Pakistan’s growing role as an exporter — albeit concentrated in a single project — is increasingly relevant amid the global shift toward electric vehicles and renewable energy, sectors that require significant copper inputs.
However, questions remain over revenue sharing, environmental management, and long-term sustainability of the Saindak operation. Calls for greater transparency in the project’s financial arrangements are expected to grow as export revenues reach new highs.
