Former Pakistani Finance Minister Hafiz Pasha revealed that China may pull out of the Saindak Copper-Gold Project in Balochistan due to escalating terrorism and security challenges. The Saindak mine, which holds an estimated 278 million tons of copper and gold reserves, is operated jointly by China's Metallurgical Corporation and Pakistan's Saindak Metals Limited. Pasha highlighted that heightened risks have scared off major foreign investors—including Shell and Procter & Gamble—and warned that Pakistan’s pursuit of a $10 billion bailout package from the United States will not resolve its structural economic crises.
The former minister's warning follows an official letter sent by Saindak Metals Limited to Pakistan's Ministry of Energy, warning of an impending operational shutdown. The company stated that insurgent attacks in Balochistan have severely disrupted essential supply routes, making continuous mining operations unsustainable. As Pakistan's primary copper export driver, the potential collapse of the Saindak project poses a severe blow to the country's revenue and foreign investment prospects. This is being seen as a big win for Baloch rebels who are in loggerheads with Karachi.
The security situation in Balochistan has grown increasingly volatile as local Baloch groups actively oppose projects under the China-Pakistan Economic Corridor (CPEC). Repeated insurgent attacks targeting Chinese personnel and infrastructure have forced Beijing to reconsider its presence in the region. While Islamabad attempts to seek security partnerships and financial relief from Western powers, rising local resistance continues to paralyze foreign-backed resource extraction projects across the province.