Pakistan Seals 13 Mineral Deals
Pakistan has sealed 13 mineral deals at the close of the Pakistan Minerals Investment Forum 2026 in Islamabad, as the government pushes investors to process minerals at home instead of exporting raw ore.
The two-day forum, which opened with delegations from 60 countries, ended on Friday with 13 joint ventures, memorandums of understanding and agreements signed with foreign companies and governments. Prime Minister Shehbaz Sharif and Chief of Defence Forces and Chief of the Army Staff Field Marshal Asim Munir attended the closing day and assured delegates of security and investment protection.
What the mineral deals cover
Most of the mineral deals centre on Chagai district in Balochistan, home to Reko Diq and the Saindak copper mine. Turkiye’s Lidiya Mining and Mari Minerals signed a joint venture to explore and develop mineral opportunities in Chagai, while the UK’s MSALABS and Mari MSA Labs agreed to set up a commercial mineral assay laboratory in Pakistan.
Turkiye’s MTA International Company and Mari Minerals announced a strategic framework for Chagai, and the Frontier Works Organisation signed an understanding with Ivanhoe Mines for projects in the same district.
The Geological Survey signed cooperation agreements with Turkiye’s mineral research directorate, Germany’s geoscience institute and the British Geological Survey, and Pakistan and Japan exchanged a statement of intent to support the survey.
A joint venture between MTA International Company and the Pakistan Mineral Development Corporation will explore antimony, copper, gold, silver, molybdenum and other critical minerals in Pishin, Balochistan. Two more agreements covered geophysical surveys and ambient noise tomography, and a joint venture will assess gemstones and develop a model mine.
Reko Diq and the 2028 target
The prime minister said copper and gold production at Reko Diq was expected to begin in 2028, after about two decades of delays. Barrick Gold, which owns half of the project, said through chairman John Thornton that it intended to remain a long-term partner of Pakistan.
Barrick is also exploring investment in mineral processing facilities in Karachi and Gwadar. The prime minister directed that local communities in Balochistan benefit directly through jobs and skills training.
The Express Tribune noted that the 2028 date looked challenging, as the project is at a halt due to security concerns. The prime minister told investors that Pakistan wanted to move “beyond Reko Diq”.
Why the government wants processing at home
The forum’s central message was a change in policy. “Mine in Pakistan, process in Pakistan, manufacture in Pakistan and then export to the rest of the world,” the prime minister said.
Pakistan wants refineries, smelters and cable factories so mineral wealth creates more value at home. Petroleum Minister Ali Pervaiz Malik said more than 40 exploration licences had already been granted in Chagai and Khuzdar districts.
The government is pitching minerals as a new source of growth as it works to steady public finances, and the prime minister said Pakistan could become the world’s sixth-largest economy before 2050. Pakistan also reaffirmed a $5 billion trade target with Turkiye this week.
The minister cited the planned upgrade of the Rohri-Nokundi railway corridor and road links between Chagai’s mineral belt and Gwadar Port. The prime minister and Field Marshal Munir inaugurated the National Minerals Data Centre and the Geological Survey’s GeoPortal, which give investors reliable geological data.
The Frontier Works Organisation reported an estimated 350 million tonnes of copper in the Dasht-i-Kain area of Chagai, based on analysis of about half of its drilling data, adding to the case for the district, which already hosts the Saindak copper mine.
Field Marshal Munir pledged full security for the mining sector and said Pakistan aimed to move “from potential to production, from promises to action, and from raw exports to value-added growth”.
Frequently asked questions
How many mineral deals did Pakistan sign at the forum?
Pakistan signed 13 joint ventures, memorandums of understanding and agreements with foreign companies and governments at the forum.
What did the Frontier Works Organisation announce in Chagai?
It reported an estimated 350 million tonnes of copper in the Dasht-i-Kain area of Chagai, based on analysis of about half of its drilling data.
When will the Reko Diq project start production?
Prime Minister Shehbaz Sharif said production at Reko Diq was expected to begin in 2028, after about two decades of delays.
Which foreign companies signed deals at the forum?
The deals involved Turkiye’s Lidiya Mining and MTA International Company, the UK’s MSALABS, Ivanhoe Mines, Barrick Gold and Japan, with Mari Minerals and the Pakistan Mineral Development Corporation as local partners.
What is Pakistan’s policy on raw mineral exports?
The government will no longer encourage raw mineral exports. Its policy is to mine, process and manufacture in Pakistan, then export finished products.
