US company plans $200m pink salt facility

[hydrabadi_arab]

WASHINGTON: A leading American company plans to invest nearly $200 million in curating, processing, distributing, and importing pink Himalayan salt from Pakistan, officials said.

The Miracle Saltworks Collective Inc (MSCI) conveyed its interest to the Ambassador of Pakistan Masood Khan at a meeting in Washington on Friday and shared their investment plans with him.

An embassy official told journalists that the company was willing to invest in the entire process — from mining to bringing it to the United States.

The company will also prepare feasibility and reserve reports and will upgrade mining procedures and processes. The plan includes the construction of a world-class processing and packaging facility at the mining site and community development programmes.

Pakistan has huge reserves of pink salt with a potential earning of $12 billion annually. An embassy press release said the country possesses approximately 22.22 billion tonnes of the natural resource, concentrated mostly in Salt Range areas of Kala Bagh, Warcha, Khewra and Bahadur Khel.

“The salt mines have an immense potential of kick-starting massive economic activity in the country,” the statement added.

The delegation included the company’s president and CEO Ahmed N. Khan, Vice President Mr. Tad M. Ballantyne, and members of its governing board.

Currently, Pakistan is earning only $70 million a year from this unique natural resource due to the lack of a policy framework and the absence of adequate facilities for processing, packaging and distribution.

Briefing the ambassador, President MSCI Ahmed N. Khan said that a multi-pronged solution, featuring public-private partnership under a clearly defined policy was being worked out to assist the government in enhancing pink salt exports.

The new policy would also encourage the private sector to take a lead role in exploiting the existing potential.

Company officials said that they were undertaking a joint venture with Pakistan Mineral Development Corporation and plan to raise market awareness to reach 10 million tonnes of verified extraction by 2030.

Two world-class processing and distribution facilities would be established in Doha and China to fulfil global demand for the product. Ambassador Masood Khan informed the team that the government was committed to providing every possible facilitation to international investors and business communities intending to invest in traditional and non-traditional sectors. Highlighting various steps taken for promoting ease of doing business and restoring investor confidence, the ambassador said that Pakistan had a unique geostrategic location and could serve as a vast market for Central and West Asia, the Middle East, and North Africa.

He said that there was a huge market for pink salt not only in the region but across the world which guaranteed profitable business ventures in the sector.

Published in Dawn, May 14th, 2023

US company plans $200m pink salt facility

Pakistan has huge reserves of pink salt with a potential earning of $12bn annually whereas currently, it's earning only $70m a year.

www.dawn.com

 

[One_Nation]

Will they claim royalty on mines? If yes then this is a bad deal. We shouldn't need foreign help for resources that under our feet.

 

[Englishman]

Pink salt is a largely untapped market

Watch this

Under no circumstances allow foreign nations to capitalise on it. Unfortunately your ruling elite are known for selling their nation on the cheap.....the deal will probably make a handful of Pakistanis relatively wealthy whilst the Americans will probably make billions in return...you are treated like some small African nation with large oil reserves...Gabon comes to mind.

Nobody will know it came from Pakistan. This is itself is a form of soft power....I.e. imagine if a Europen or American uses Pakistani pink salt on his fried egg every morning and know its from Pakistan....

 

[Ali_Baba]

Will they claim royalty on mines? If yes then this is a bad deal. We shouldn't need foreign help for resources that under our feet.

There is an inherent lack of common sense in all spheres in Pakistani society...

 

[ARMalik]

National assets being sold left right and centre by these Corrupt Monkeys for peanuts.

 

[LeGenD]

Some of you comment on a topic without doing any homework.

Pink Salt was being sold to India in its raw form at very low prices and Indian companies process and refine it for local consumption as well as for EXPORTS to other countries under Made in Indian tagging. This is profiteering at the expense of Pakistan.

Before the suspension of trade between the two countries, the salt was being imported by Indian traders and re-exported in small and attractive packs at exorbitant prices to the European Union, United States, and even the far East, with labels showing that this salt was a product of the Indian Himalayas. While Pakistan sold the original Khewra salt for Rs. 70 per kg, the Indian traders were reselling it overseas at around Rs. 800- 1,000 per kg.

Pakistan close to preventing India from buying Khewra salt cheap & reselling it as Indian

The salt has for long been imported by Indian traders and re-exported in attractive packs at exorbitant prices to the European Union & United States.

www.techjuice.pk

Pakistan now have the opportunity to export Pink Salt to the US directly with support of Miracle Saltworks Collective Inc.

US company plans $200m pink salt facility

Pakistan has huge reserves of pink salt with a potential earning of $12bn annually whereas currently, it's earning only $70m a year.

www.dawn.com

This is good news and a step in the right direction.

Pakistan should find more customers.

 

[Skywalker]

Investment is the way forward in order to improve the economy, if they are interested in investing the infrastructure minus owning the rights of these mines then there is no harm as we lack management as well marketing skills, our business people are one of the biggest bull shitters i have ever come across, they always talk big but in reality they just try to make a micky out of the general public.

 

[AZADPAKISTAN2009]

For 70% share for foreign country and 30% for local elite they will sell off Pakistani interest just as before

Because the idiots can't dig up a hole to extract raw goods using local workforce

If Pakistani Company hires local workers we will retain 95% of profit but there will be no cuts for Elite

 

[One_Nation]

There is an inherent lack of common sense in all spheres in Pakistani society...

Whenever there is foreign money coming in there is bribery involved. They will give maximum leverage to foreign companies in return for bribes even if it involves providing royalties.

 

[One_Nation]

Investment is the way forward in order to improve the economy, if they are interested in investing the infrastructure minus owning the rights of these mines then there is no harm as we lack management as well marketing skills, our business people are one of the biggest bull shitters i have ever come across, they always talk big but in reality they just try to make a micky out of the general public.

It was sad to see pink salt from Pakistan in Australian market that had a label "packed in Turkey".
Its the packaging, branding where more margins are added and stupid people in government allow raw salt to be exported.
Lacking marketing skills is not an excuse to let someone else take your share.
All we need to do is clean it up and pack it in quality packaging under Pakistani brands. Its not a big thing.

 

[game]

I think they are already operating in Pakistan and the company may be owned by a Pakistani

The website is less than 2 yrs old and has stock pics and basic website ..prob they sell online
I am not sure why $200m is needed for a slat factory

Miracle Salt Collective Inc.

www.miraclesaltcollective.com

 

[Cheepek]

Some of you comment on a topic without doing any homework.

Pink Salt was being sold to India in its raw form at very low prices and Indian companies process and refine it for local consumption as well as for EXPORTS to other countries under Made in Indian tagging. This is profiteering at the expense of Pakistan.

Before the suspension of trade between the two countries, the salt was being imported by Indian traders and re-exported in small and attractive packs at exorbitant prices to the European Union, United States, and even the far East, with labels showing that this salt was a product of the Indian Himalayas. While Pakistan sold the original Khewra salt for Rs. 70 per kg, the Indian traders were reselling it overseas at around Rs. 800- 1,000 per kg.

Pakistan close to preventing India from buying Khewra salt cheap & reselling it as Indian

The salt has for long been imported by Indian traders and re-exported in attractive packs at exorbitant prices to the European Union & United States.

www.techjuice.pk

Pakistan now have the opportunity to export Pink Salt to the US directly with support of Miracle Saltworks Collective Inc.

US company plans $200m pink salt facility

Pakistan has huge reserves of pink salt with a potential earning of $12bn annually whereas currently, it's earning only $70m a year.

www.dawn.com

This is good news and a step in the right direction.

Pakistan should find more customers.

Earlier from Pakistan to India directly, now from Pakistan to India indirectly.... that's the only difference.

 

[ProblemSolver]

Some of you comment on a topic without doing any homework.

Pink Salt was being sold to India in its raw form at very low prices and Indian companies process and refine it for local consumption as well as for EXPORTS to other countries under Made in Indian tagging. This is profiteering at the expense of Pakistan.

Before the suspension of trade between the two countries, the salt was being imported by Indian traders and re-exported in small and attractive packs at exorbitant prices to the European Union, United States, and even the far East, with labels showing that this salt was a product of the Indian Himalayas. While Pakistan sold the original Khewra salt for Rs. 70 per kg, the Indian traders were reselling it overseas at around Rs. 800- 1,000 per kg.

Pakistan close to preventing India from buying Khewra salt cheap & reselling it as Indian

The salt has for long been imported by Indian traders and re-exported in attractive packs at exorbitant prices to the European Union & United States.

www.techjuice.pk

Pakistan now have the opportunity to export Pink Salt to the US directly with support of Miracle Saltworks Collective Inc.

US company plans $200m pink salt facility

Pakistan has huge reserves of pink salt with a potential earning of $12bn annually whereas currently, it's earning only $70m a year.

www.dawn.com

This is good news and a step in the right direction.

Pakistan should find more customers.

Wouldn't it be better to set up the industry ourselves, and then export it and take in all the revenue ourselves instead of letting someone else make more money from their measly 200m dollar investment? You can market it as Himalayan Pink Salt or whatever and it will sell very well in the health conscious Amerian market.

 

[Asian.Century]

$12 Billion per year is huge for Pakistan's Pink Salt earning!

 

[jamal18]

For 70% share for foreign country and 30% for local elite they will sell off Pakistani interest just as before

Because the idiots can't dig up a hole to extract raw goods using local workforce

If Pakistani Company hires local workers we will retain 95% of profit but there will be no cuts for Elite

There should be a law to stop foreign firms extracting our minerals and oil.

Yes, we are incapable of digging a hole in the ground and shoveling out salt.