Latest news with #PakistanMineralInvestmentForum2025
Arab News
08-04-2025
- Business
- Arab News
Pakistan eyes investments from Saudi Arabia, China, US as minerals summit kicks off
ISLAMABAD: Pakistan is hosting ministers and officials of private mining companies from Saudi Arabia, China, the United States and a host of other countries for a two-day minerals summit in the capital today, Tuesday, as it eyes international investment in its natural reserves estimated to be worth $6 trillion. Grappling with a prolonged macroeconomic crisis, Pakistan hopes to tap into its vast reserves of minerals and natural resources to turn its fortunes around. The country is home to one of the world's largest porphyry copper-gold mineral zones, while the Reko Diq mine in southwestern Balochistan has an estimated 5.9 billion tons of ore. Barrick Gold, which owns a 50 percent stake in the Reko Diq mines, considers them one of the world's largest underdeveloped copper-gold areas, and their development is expected to have a significant impact on Pakistan's struggling economy. The Oil and Gas Development Company Limited (OGDCL), Pakistan's leading exploration and production (E&P) company, in collaboration with the government of Pakistan and strategic partners are organizing the summit. Petroleum Minister Ali Pervaiz Malik said this week that the government expects around 2,000 people to attend the Pakistan Minerals Investment Forum from Apr. 8-9 in Islamabad, which would include a 'significant' number of foreign dignitaries. He said officials from China, Azerbaijan, Saudi Arabia, China and the US are expected to attend the summit. 'To truly unlock the potential of this [mining and minerals] sector, we need more than just capital,' Pakistan's Deputy Prime Minister Ishaq Dar said at the summit. 'We need a shared commitment to collaborate. Cooperation among governments, industry leaders, investors and local communities is very essential.' The deputy premier said investment in Pakistan's mineral sector not only represents financial opportunity but a vital step toward securing a sustainable and 'technologically advanced future' for the coming generations. 'The Pakistan Mineral Investment Forum 2025 provides a unique platform for stakeholders, friendly countries and partners to converge, explore new prospects and build mutually beneficial partnerships,' Dar added. Dar called on attendees 'to invest with purpose, with foresight and with the collective well-being' of the people of Pakistan and its partners and investors in mind. Pakistan is expected to unveil its newly developed, investor-friendly National Minerals Harmonization Framework 2025, which aims to attract investment in the country's mineral sector, at the forum. Malik said on Monday that the summit would also feature key agreements and memoranda of understanding (MoUs) signed between Pakistan and other countries. 'It is the prime minister's wish that we do not restrict this event to just words, so we will confirm some MoUs in front of you,' the minister said. 'Along with this, not just MoUs but a few agreements will also be executed after which we will take these matters toward implementation.' Pakistan has designated mining and minerals as a priority sector for national economic development, aiming to reduce its reliance on imports and enhance exports. The country is undertaking efforts to utilize its natural resources through foreign investment and collaboration to stabilize its $350 billion economy, which has suffered a prolonged economic crisis over the past few years. Islamabad has aggressively pursued trade and investment with its regional allies, Central Asian states and Gulf countries in recent months to ward off a macroeconomic crisis that has drained its reserves, weakened its currency and triggered a balance of payment crisis. Pakistan formed the Special Investment Facilitation Council (SIFC), a hybrid civil-military government body, in 2023 to attract international investment in its key priority sectors, mining and minerals among them.
Express Tribune
08-04-2025
- Business
- Express Tribune
Pakistan launches minerals investment forum in Islamabad
Listen to article The Pakistan Mineral Investment Forum 2025 (PMIF25) opened in Islamabad on Tuesday with a high-level pledge to unlock the country's vast mineral wealth and position it as a globally competitive mining hub. The two-day forum aims to attract foreign direct investment and forge long-term partnerships by highlighting Pakistan's mineral potential. More than 2,000 participants were in attendance, including 300 international delegates from the United States, China, Saudi Arabia, the United Kingdom, Finland, Denmark, and Kenya. In his opening remarks, Deputy Prime Minister Ishaq Dar said the country was 'strategically positioned to emerge as a global mining powerhouse,' citing its rich geological landscape and underutilised mineral resources. He said Pakistan was home to major deposits such as Reko Diq, as well as vast reserves of rare earth elements, industrial minerals, and globally sought-after gemstones like peridot and emerald. Dar launched the National Minerals Harmonisation Framework 2025 at the event—an integrated reform initiative designed to attract investors and streamline policy in a sector that currently contributes just 3.2% to the national GDP. 'The mineral sector can redefine our economy, supply chains, and export profile,' Dar said. 'We are laying the foundation of a robust ecosystem for stakeholders, including local and foreign partners.' The forum, jointly supported by federal and provincial governments, also saw attendance from Prime Minister Shehbaz Sharif and Chief of Army Staff General Asim Munir—reflecting strong institutional support behind the reforms. In a show of international interest, the United States was represented by Eric Meyer, Senior Bureau Official at the Bureau of South and Central Asian Affairs, while Saudi Arabia's Vice Minister for Minerals expressed readiness to explore strategic cooperation. Federal Minister for Power Ali Pervaiz Malik underscored the government's consistent efforts to stabilise the economy and said legal and administrative frameworks were being harmonised to improve ease of doing business. He noted that mining remains a provincial subject, but coordination with all provinces was underway to ensure alignment of goals and transparency in operations. 'Through institutions like the Special Investment Facilitation Council (SIFC), the Petroleum Division, and the Board of Investment, we are working in unison to bring a pro-investor environment,' Malik said. He stressed that Balochistan, in particular, held immense untapped mineral wealth, adding that special focus was being given to the province's development in this regard. Minister for Commerce Jam Kamal, speaking during a panel session, said Pakistan's mineral potential could attract both regional and global attention if security and regulatory concerns were addressed. 'Balochistan can lead the way in this transformation,' he said. 'Our resource base is substantial, and we're ready to provide the necessary facilitation for investment.' Kamal described investment in minerals as a long-term commitment, urging foreign companies to explore joint ventures and public-private collaborations that extend beyond extraction. Saudi Arabia's delegation echoed this view, with the kingdom's Vice Minister stating that Riyadh was actively assessing partnership opportunities in Pakistan's minerals value chain. Throughout the forum, several agreements and memorandums of understanding (MoUs) are expected to be signed, marking what the organisers hope will be a turning point in the country's mineral development strategy. The event will conclude on April 9 with sectoral briefings, technical workshops, and policy panels aimed at identifying priority projects and clearing regulatory hurdles for incoming investment. For a country seeking new engines of economic growth, the mineral sector is being seen as a major opportunity to drive exports, generate jobs, and ensure long-term fiscal stability.
