Pakistan moves beyond raw mineral exports with 13 new international deals

Islamabad: Pakistan has signed 13 mineral cooperation agreements with international companies and foreign partners to attract investment, expand exploration and establish local processing industries as the country seeks to reduce its dependence on exporting raw and unprocessed minerals.

The agreements were announced on Friday during the concluding session of the Pakistan Minerals Investment Forum 2026 attended by Prime Minister Shehbaz Sharif and Chief of Defence Forces and Chief of Army Staff Field Marshal Asim Munir.

Both leaders called for the development of complete mineral value chains, covering exploration, extraction, processing and manufacturing instead of limiting Pakistan’s role to exporting unprocessed resources.

Prime Minister Shehbaz Sharif stressed that mineral development must go hand in hand with environmental protection. He urged investors to adopt modern technologies and international standards to protect water resources and ensure workers’ health and safety.

The prime minister said Pakistan was seeking long-term investment partnerships that would generate local economic benefits through processing and manufacturing facilities while providing opportunities for international investors.

Meanwhile, Barrick Gold Executive Chairman John Thornton reaffirmed his company’s commitment to Pakistan, saying it intended to remain a long-term partner in the Reko Diq project. Barrick holds a 50% stake in the major gold and copper development.

Pakistan also signed two memorandums of understanding with US-based Ivanhoe Atlantic to strengthen cooperation in mineral exploration and development.

The agreements involved several international companies and Pakistani organisations, with projects focusing on mineral exploration, geological research, laboratory facilities and resource assessment.

Among the major arrangements was a joint venture between Turkiye’s Lidiya Mining and Mari Minerals for exploring and developing mineral resources in Chagai, Balochistan.

MSALABS Limited of the United Kingdom and Mari MSA Labs also agreed to establish a modern commercial mineral testing laboratory in Pakistan.

Another agreement between Turkiye’s MTA International Company and Mari Minerals will support exploration and mining projects in Chagai.

The Frontier Works Organisation (FWO) and Ivanhoe Mines also signed an MoU for joint cooperation in mineral exploration and mining activities in Balochistan. The agreement was signed by Ivanhoe Mines founder Robert Friedland and FWO Chief Executive Engineer Abdul Sami.

Additional arrangements included cooperation between Pakistan and Japan to strengthen the Geological Survey of Pakistan, as well as geological research agreements with Turkiye, Germany and the British Geological Survey.

The Pakistan Mineral Development Corporation (PMDC) also entered into a joint venture with MTA International Company to explore antimony, copper, gold, silver, molybdenum and other critical minerals in Pishin, Balochistan.

Other agreements covered gemstone resource assessment, the development of a model mine, airborne geophysical surveys and ambient noise tomography.

According to the Institute of Cost and Management Accountants (ICMA), Pakistan’s mineral reserves are estimated at approximately $8 trillion and extend across nearly 600,000 square kilometres.

Despite this potential, the mining sector has historically contributed less than 3% to the country’s gross domestic product (GDP).

The estimates suggest that annual mineral exports could increase from around $3 billion to $8 billion, while economic growth could potentially rise from approximately 3% to 6% with improved governance and security.

However, converting these resources into sustainable economic gains will require investment in infrastructure, geological research, modern technology, financing, regulatory stability and environmental safeguards.

The latest agreements mark an effort to strengthen international partnerships and develop domestic industrial capacity so Pakistan can generate greater value from its mineral resources.