Pakistan eyes foreign investment in minerals sector as minister meets mining firms

Petroleum Minister Ali Pervaiz Malik met leaders of Barrick, Weir, Trafigura, Çalık Holding and Ivanhoe Mines on the sidelines of the Pakistan Minerals Investment Forum (PMIF).

The meetings are part of Pakistan’s push to attract foreign investment in its minerals sector and build international partnerships.

Who did Ali Pervaiz Malik meet at the Pakistan Minerals Investment Forum?

He held separate meetings with John Thornton, Chairman of Barrick Mining Corporation; Andrew Neilson, Chief Executive of Weir; Ibrahim El Gazzar of Trafigura; and Mustafa Aksoy, CEO of Çalık Holding. He also met a delegation led by Robert Friedland of Ivanhoe Mines.

What did Weir, Trafigura and Barrick tell the minister?

Neilson, whose company is a Scottish mining and engineering firm, said Weir is interested in expanding its involvement in Pakistan’s mining sector. He said the company is exploring opportunities beyond its existing engagement in the Reko Diq project.

El Gazzar, Head of Metals and Minerals (MENA) at Singapore-based Trafigura, attended with his delegation. He said Trafigura is interested in Pakistan’s Zinc-Barite project and in exploring opportunities in the country’s LPG, bonded storage and refinery sectors.

Thornton, who was accompanied by Barrick’s senior leadership, said it was always a pleasure to visit Pakistan. His remarks reflected Barrick’s continued engagement with the country.

What agreement did Ivanhoe Mines sign with Mari Minerals?

The minister witnessed the signing of an agreement between Ivanhoe Mines and Mari Minerals for the exploration of copper and gold deposits in Chagai, Balochistan. Under the agreement, the companies plan to carry out exploration to assess the region’s mineral potential.

They also plan to identify opportunities to develop its copper-gold resources.

Why is Pakistan seeking foreign investment in its minerals sector?

Malik welcomed the growing interest of international companies in Pakistan’s minerals sector. He said PMIF provides an important platform to connect global investors with investment opportunities and facilitate partnerships.

He said the forum also helps unlock the country’s mineral potential.