The largest mineral extraction company in Pakistan, the Frontier Works Organization, has signed an agreement with the American company U.S. Strategic Metals.
The agreement includes plans for the installation of a polymetallic refinery (processing multiple metals from ores into high-purity metallic products) in Pakistan.
This investment follows a trade agreement reached between the United States (U.S.) and Pakistan in August.
Under that agreement, the Asian country aimed to attract American investment into its mineral and oil reserves.
U.S. Strategic Metals focuses on the production and recycling of essential minerals.
A second agreement was signed between the Pakistani logistics organization, National Logistics Corp, and the Portuguese engineering and construction company, Mota-Engil Group.
According to a statement from the office of Pakistan’s Prime Minister, Shehbaz Sharif, discussions were held with the delegation from U.S. Strategic Metals and Mota-Engil regarding Pakistan’s copper, gold, rare earth, and other mineral resources.
The parties expressed their willingness to develop value-added facilities, increase mineral processing capacities, and undertake large-scale projects related to mineral exploration, according to the statement.
“The partnership will begin immediately with the export of readily available minerals from Pakistan, including antimony, copper, gold, tungsten, and rare earth elements,” the note states.
“This signing is yet another example of the strength of the U.S.-Pakistan bilateral relationship, which will benefit both countries,” said the U.S. embassy in Pakistan in a statement.
Most of Pakistan’s mineral wealth is located in the southwestern province of Balochistan, which has been affected by a rebellion from separatists opposed to resource extraction by Pakistani and foreign companies.
Oil and mineral reserves have also been found in southern Sindh, eastern Punjab, and northwestern Khyber Pakhtunkhwa, bordering Afghanistan.
