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ISLAMABAD: Pakistan is encouraging Swedish companies to expand their role in the country&rsquo;s mining sector beyond the flagship Reko Diq project, as Islamabad seeks to accelerate foreign investment and unlock the potential of its largely untapped mineral resources.&nbsp;Federal Minister for Petroleum Ali Pervaiz Malik raised the invitation during a meeting with Sweden&rsquo;s Ambassador to Pakistan Alexandra Berg von Linde, an official statement said, where both sides discussed strengthening economic cooperation and identifying new areas of partnership in energy and mining.&nbsp;The discussions highlighted the long-standing ties between the two countries, with Swedish firms already operating across sectors ranging from transport and telecommunications to industrial manufacturing and packaging.&nbsp;According to the Swedish envoy, more than 40 companies are currently affiliated with the Swedish Business Council in Pakistan, underscoring Sweden&rsquo;s established commercial presence in the country.&nbsp;Von Linde said, according to the statement, mining presents a significant opportunity for deeper collaboration, noting Sweden&rsquo;s global expertise in areas such as mining digitalization, sustainable extraction, environmental safeguards and specialized mining services.&nbsp;&ldquo;Swedish companies are already contributing to Pakistan&rsquo;s mining sector and see significant potential for further expansion,&rdquo; the statement quoted her as saying.&nbsp;The ambassador pointed to the Reko Diq copper and gold project as a key example of ongoing cooperation, where Swedish firms are contributing products, connectivity solutions and explosives-related services.&nbsp;Pakistan has positioned the massive&nbsp;<a href="https://www.pakistantv.com/article/exim-bank-to-lend-125b-for-pakistans-coppergold-project-ft" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Reko Diq deposit</a>, considered among the world&rsquo;s largest undeveloped copper and gold reserves, at the center of its strategy to revive foreign investment and boost mineral exports following years of economic strain.&nbsp;The government estimates the mine could generate roughly $70 billion in free cash flow and $90 billion in operating cash flow over its lifespan. Production is expected to begin in 2028.&nbsp;Canadian mining giant Barrick Gold, the Government of Pakistan and the provincial government of Balochistan jointly own the project.&nbsp;Malik described Reko Diq as the &ldquo;jewel&rdquo; of&nbsp;<a href="https://www.pakistantv.com/article/us-working-to-realize-pakistans-critical-minerals-potential-official-tells-congress" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Pakistan&rsquo;s mining industry</a>, praising the companies and stakeholders involved for maintaining steady progress on the project despite logistical and operational challenges.&nbsp;He noted that work has advanced without a single day of delay.&nbsp;Looking beyond the project, the minister said Pakistan intends to spotlight broader mining and exploration opportunities at the Pakistan Minerals Investment Forum 2026, where international companies will be invited to explore investments across related sectors.&nbsp;&ldquo;We want partners like Sweden to expand their footprint beyond Reko Diq and participate in Pakistan&rsquo;s wider mining ecosystem,&rdquo; Malik said.&nbsp;The Swedish ambassador recalled that the previous edition of the minerals forum attracted strong international participation.&nbsp;Sweden maintained an official presence at the event, while five Swedish companies also took part independently.&nbsp;She expressed hope that a larger Swedish delegation, including representatives from the Business Development Association, would attend the upcoming forum.&nbsp;Malik said this year&rsquo;s event is expected to be significantly larger and more influential, emphasizing that Pakistan&rsquo;s exploration sector still holds substantial untapped potential for international investors.&nbsp;Both sides agreed to continue engagement aimed at expanding bilateral investment, encouraging technological exchange and promoting sustainable development in the mining and energy sectors.

Federal Minister for Petroleum Ali Pervaiz Malik meets Swedish Ambassador Alexandra Berg von Linde in Islamabad on Friday, March 6, 2026, to discuss cooperation in the energy and mining sectors. (Photo: X/@Official_PetDiv)

Economy

The discussions highlight the long-standing ties between the two countries, with Swedish firms already operating across sectors ranging from transport and telecommunications to industrial manufacturing and packaging.


Pakistan invites Swedish firms to expand mining beyond Reko Diq

ISLAMABAD: Pakistan highlighted its vast mineral potential and commitment to investor-friendly reforms this week at the Future Minerals Forum (FMF) in Riyadh, where Petroleum Minister Ali Pervaiz Malik outlined opportunities for global partnerships in the country&rsquo;s mining and minerals sector.&nbsp;Speaking during a panel discussion, Malik said Pakistan was emerging as an increasingly attractive destination for mineral investment, citing growing international interest.&nbsp;During the same session, CNN anchor Eleni Giokos observed that the world appeared to be &ldquo;knocking at Pakistan&rsquo;s door to secure minerals,&rdquo; according to an official statement from the Ministry of Energy.&nbsp;The minister reaffirmed the government&rsquo;s focus on reforms aimed at easing entry for foreign investors.&nbsp;He said Pakistan was working on &ldquo;simplifying the regulatory environment and harmonizing the mineral sector framework&rdquo; to unlock the sector&rsquo;s full potential, while offering &ldquo;significant opportunities for global partnerships.&rdquo;&nbsp;Malik also invited international stakeholders to participate in the Pakistan Minerals Investment Forum, scheduled for April, describing it as a platform for investment, collaboration and policy dialogue.&nbsp;On the sidelines of the forum, the minister held a series of high-level bilateral meetings, including talks with Saudi Arabia&rsquo;s Minister of Energy, Prince Abdulaziz bin Salman Al-Saud.&nbsp;The discussions focused on strengthening cooperation across the energy spectrum, including petroleum supply, renewable energy, energy efficiency and broader investment opportunities.&nbsp;Pakistan&rsquo;s presence at FMF was further reinforced through its national pavilion, titled &ldquo;Pakistan &ndash; The Mineral Marvel.&rdquo; The pavilion featured live demonstrations of the National Minerals Data Center (NMDC), a digital platform aimed at modernizing Pakistan&rsquo;s mineral sector.&nbsp;In addition, Pakistan hosted a 90-minute country showcase session on its mineral resources, which attracted a full audience. Addressing participants, Malik said, &ldquo;Pakistan is open for business and the Government of Pakistan stands firmly behind investors.&rdquo;&nbsp;He also highlighted the strategic importance of Reko Diq, describing it not merely as a mining project but a benchmark that would &ldquo;set new standards for mining.&rdquo;&nbsp;He added that the theme of the upcoming Pakistan Minerals Investment Forum would be &ldquo;Beyond Reko Diq.&rdquo;&nbsp;Pakistan&rsquo;s active engagement at the Future Minerals Forum underscored the government&rsquo;s push for responsible mineral development, international cooperation and investment-led growth.

Islamabad outlines regulatory reforms, unveils digital mineral platforms, holds Saudi energy talks, and invites international investors to the 2026 Pakistan Minerals Investment Forum.

Pakistan highlights mineral potential, seeks global partnerships at Riyadh forum

ISLAMABAD: The United States Export-Import Bank (Exim) will extend a $1.25 billion loan for the Reko Diq copper and gold project in Pakistan&#39;s Balochistan province, as part of a major financing plan aimed at strengthening American and allied supply chains, the Financial Times reported on Monday. Exim&rsquo;s chair, John Jovanovic, told the newspaper that the bank was preparing to deploy $100 billion to support global energy and minerals projects, marking a significant expansion of its mandate under President Donald Trump&rsquo;s plan for &ldquo;energy dominance.&rdquo; According to the report, the Reko Diq financing forms part of Exim&rsquo;s early set of deals, which also include a credit insurance guarantee covering $4 billion of US natural gas exports to Egypt. Jovanovic said the bank was focusing on securing supply chains for critical minerals, LNG and nuclear energy in an effort to reduce Western reliance on China and Russia. He said Exim was &ldquo;back in a big way&rdquo; and would play a central role in bringing &ldquo;US energy molecules to every corner of the globe.&rdquo; The loan for Reko Diq comes as the United States seeks to expand its footprint in global mining projects for minerals such as copper, which Washington views as essential for infrastructure, energy and technology industries. The White House has highlighted the need to diversify supply away from China, which dominates processing and exports of several strategic minerals. Reko Diq, being developed by Barrick Gold, is among the largest undeveloped copper and gold deposits in the world. The project is considered a key component of Pakistan&rsquo;s future mining sector growth and is expected to attract multi-billion-dollar foreign investment over the next decade. The Financial Times said Exim had authorized $8.7bn in new transactions in the year to September, excluding a previously approved $4.7bn loan for an LNG project in Mozambique. The bank still has $100bn in lending capacity authorized by the US Congress. Jovanovic said Exim was receiving strong demand for US LNG from Europe, Africa and Asia, and that a series of large supply deals would be announced soon. He added that, unlike some development banks, Exim does not have climate-related restrictions barring support for fossil fuel projects. The report noted that the bank is also moving to support nuclear energy projects in southeastern Europe, along with new mining ventures for uranium and other critical minerals.

The report says the Reko Diq financing forms part of Exim’s early set of deals, which also include a credit insurance guarantee covering $4 billion of US natural gas exports to Egypt.

Exim Bank to lend $1.25B for Reko Diq as part of $100B global energy push: FT

Gaitty Ara Anis

WASHINGTON, DC: Pakistan&rsquo;s mining sector is poised for major expansion, with Finance Minister Muhammad Aurangzeb projecting that the first year of commercial operations at the Reko Diq copper and gold project could generate $2.8 billion in copper exports, a 10% increase in the country&rsquo;s overall export base.&nbsp;Speaking exclusively to Pakistan TV Digital&nbsp;at the conclusion of his weeklong US visit for the IMF-World Bank Annual Meetings in Washington, Aurangzeb said the project is only the beginning, with additional mines and concessions expected to come online in the coming years.&nbsp;&ldquo;This is just the start because there are other mines and concessions coming through,&rdquo; he said.&nbsp;Aurangzeb highlighted that the Reko Diq project is attracting US investment, with the International Finance Corporation (IFC) leading the syndication and the US EXIM Bank expected to participate once the US government shutdown concludes.&nbsp;Islamabad&rsquo;s long-term vision includes smelting and value addition, which will enhance Pakistan&rsquo;s industrial output. &ldquo;That&rsquo;s not going to happen overnight, but where we are headed has huge upside for Pakistan,&rdquo; he said.&nbsp;Yuan bonds: diversifying Pakistan&rsquo;s fundingAlongside mining, Pakistan plans to issue its first-ever yuan-denominated bonds worth $250 million by the end of 2025, part of a strategy to diversify funding sources and strengthen macroeconomic resilience.&nbsp;&ldquo;From our perspective, this is a very important trade, a funding diversification discussion,&rdquo; Aurangzeb said. &ldquo;We have previously done Euro issuances and US dollar Islamic support, so we have been late, quite frankly, in terms of tapping the second-largest and second-deepest capital market in the world.&rdquo;&nbsp;He said the government will raise about $250 million equivalent in Chinese yuan (RMB) in the first phase and called the move &ldquo;long overdue&rdquo; to strengthen ties with Asian markets and reduce reliance on Western financial channels.&nbsp;Aurangzeb confirmed that the issuance will feature credit enhancement from the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB).&nbsp;&ldquo;We are following the Egyptian model because they had credit enhancement so that we will have the same from AIIB and ADB,&rdquo; he explained.&nbsp;Two non-deal roadshows have already generated &ldquo;strong investor interest,&rdquo; and the minister said the issuance is expected to be completed before the end of the calendar year, supported by &ldquo;very strong underwriters.&rdquo;&nbsp;Macroeconomic stability and reform commitment&nbsp;Aurangzeb said the bond issuance is part of a broader strategy to consolidate macroeconomic stability, which has shown notable improvements.&nbsp;&ldquo;If we look at it holistically, around macroeconomic stability, a stable currency, FX reserves, inflation coming into single digits, and the policy rate coming down. We are making progress that now has two external validations,&rdquo; he said.&nbsp;He cited the IMF staff-level agreement and upgrades from all three major credit rating agencies as indicators that Pakistan&rsquo;s reform direction is recognized internationally.&nbsp;&ldquo;That too has happened after the test of two and a half to three years,&rdquo; he added.&nbsp;Aurangzeb stressed that the government is focused on long-term sustainability, emphasizing reforms in taxation, energy, state-owned enterprises, and public finances.&nbsp;&ldquo;That is what is going to give permanence, because oil prices can go up and down,&rdquo; he said.&nbsp;Privatization drive&nbsp;On privatization, Aurangzeb acknowledged past delays but emphasized that progress is now decisive.&nbsp;&ldquo;This is one area where we haven&rsquo;t done well in the last 18 months,&rdquo; he said. &ldquo;But we are beginning to move in that direction.&rdquo;&nbsp;The first privatization in this cycle was the sale of a small public-sector bank to a UAE-based conglomerate.&nbsp;&ldquo;It&rsquo;s a step in the right direction. They have big plans in terms of investment flows and maybe even going digital with that institution,&rdquo; he said.&nbsp;Describing the transaction as the &ldquo;first run on the board,&rdquo; Aurangzeb said it demonstrates the government&rsquo;s commitment to structural reform.&nbsp;The Pakistan International Airlines (PIA) privatization is also advancing.&nbsp;&ldquo;Last year we weren&rsquo;t successful, but this year, with the reopening of flight routes to Europe in January and to the UK recently, the airline&rsquo;s value proposition has improved,&rdquo; he said.&nbsp;A shortlist of qualified bidders has been finalized, and due diligence is ongoing.&nbsp;&ldquo;I&rsquo;m quite sanguine that before the year is out, this is going to go through,&rdquo; he added.&nbsp;The minister also mentioned finalizing a sell-side advisor for the Roosevelt Hotel transaction in New York. Additionally, three power distribution companies (DISCOs) are in Phase One of privatization, with international advisors Albert Alers and Marcelis leading the process.&nbsp;&ldquo;We have good traction there as well,&rdquo; he said, noting that 24 state-owned enterprises have been handed over to the Privatization Commission. &ldquo;The first one is the first drop,&rdquo; he added, echoing Prime Minister Shehbaz Sharif&rsquo;s remarks.&nbsp;Building economic resilience&nbsp;Aurangzeb emphasized the importance of fiscal and external buffers to manage global economic cycles.&nbsp;&ldquo;At some point, these cycles will reverse. Commodities go through cycles, and countries go through cycles. Countries that do well are those that build buffers, fiscal and external, and let the private sector lead growth,&rdquo; he said.&nbsp;He added that with renewed investor confidence, structural reforms, and diversified funding, Pakistan is now positioned to convert early recovery signs into long-term sustainable stability.&nbsp;&ldquo;The direction of travel is clear. We are turning the first drops of progress into a steady stream of sustainable reform,&rdquo; Aurangzeb concluded.

Pakistan finance minister Muhammad Aurangzeb

In a wide-ranging interview with Pakistan TV Digital, Finance Minister Muhammad Aurangzeb says Pakistan will generate $2.8 billion in copper exports, issue $250 million yuan bonds, and advance privatizations.

Pakistan’s Reko Diq copper project to generate $2.8B in first-year: finance minister

ISLAMABAD: Pakistan&rsquo;s Economic Coordination Committee (ECC) has approved a $390 million bridge financing deal with Reko Diq Mining Company to build a railway in southwestern Balochistan province, enabling copper and gold transport to export terminals, the finance division said. The decision was made during a meeting held at the Finance Division under the chairmanship of Finance Minister Muhammad Aurangzeb. According to an official statement released on Thursday, the railway development agreement includes the laying of a 1,350-kilometer track to handle large volumes of export material from the Reko Diq site, one of the world&rsquo;s largest untapped copper-gold deposits. The ECC reviewed and approved the railways ministry&rsquo;s proposal for entering into both a rail development agreement and a bridge financing agreement with the Reko Diq Mining Company. It further directed the ministry to share finalized agreement documents with the Finance Division for appraisal. In a forward-looking directive, the ECC instructed finance and railways ministries to submit an update on the project&rsquo;s execution and implementation by March next year. Earlier in the meeting, the ECC also approved a summary submitted by the Petroleum Division concerning definitive agreements and financial commitments related to the broader Reko Diq Project.&nbsp; Highlighting the significance of the project, Finance Minister Muhammad Aurangzeb said, &ldquo;The ECC&rsquo;s approvals signify the government&rsquo;s firm commitment to moving ahead with this landmark project, which has the potential to transform the economic landscape of Balochistan and generate far-reaching benefits for the people of Pakistan.&rdquo; &ldquo;The Reko Diq Project will not only unlock one of the world&rsquo;s largest undeveloped copper-gold deposits but also catalyze job creation, infrastructure development, and long-term socio-economic uplift across the region,&rdquo; he added. The Reko Diq Project, situated in Chagai district near the border with Iran and Afghanistan, is a joint venture between the Government of Pakistan, the Government of Balochistan, and global mining company Barrick Gold Corporation. With copper and gold reserves estimated to be worth billions of dollars, the project is widely seen as a game-changer for Pakistan&rsquo;s mineral sector. The latest approvals signal a crucial step toward the full operationalization of the Reko Diq mine, which could become a major source of foreign exchange and development for the country.

The agreement includes building a 1,350-km railway to transport large volumes of copper and gold from Reko Diq, one of the world’s largest untapped deposits.

Pakistan approves $390 million railway plan for Balochistan mines

ISLAMABAD: US Strategic Metals (USSM) on Monday signed a Memorandum of Understanding (MoU) with Pakistan&rsquo;s Frontier Works Organization (FWO), marking a new chapter in US-Pakistan cooperation in the critical&nbsp;<a href="https://www.pakistantv.com/article/pakistan-seeks-global-partnership-for-mineral-extracts-energy-transition" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">minerals sector</a>, the US Embassy in Islamabad said in a press release. The signing ceremony took place at the Prime Minister&rsquo;s House, with Acting Deputy Chief of Mission Zach Harkenrider and other senior officials in attendance. Speaking at the event, Charg&eacute; d&rsquo;Affaires Natalie Baker described the agreement as &ldquo;yet another example of the strength of the US-Pakistan bilateral relationship,&rdquo; emphasizing that it stands to benefit both countries. &ldquo;The Trump administration has made the forging of such deals a key priority, given the&nbsp;<a href="https://www.pakistantv.com/article/aussie-pm-meets-trump-with-critical-minerals-on-offer" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">importance</a>&nbsp;of critical mineral resources to American security and prosperity,&rdquo; she said. Baker also expressed optimism about future collaboration between US and Pakistani firms in mining and mineral development. About US strategic metalsBased in Missouri, USSM specializes in the production and recycling of critical minerals. These include elements deemed essential by the US Department of Energy for advanced manufacturing, clean energy technologies, and national defense applications. Strategic opportunityThe MoU comes just weeks after US&nbsp;Secretary of State Marco Rubio reiterated Washington&rsquo;s interest in deepening collaboration with Pakistan on critical minerals and hydrocarbons. Pakistan&rsquo;s Commerce Minister Jam Kamal said in August that the government is actively offering joint venture opportunities to foreign investors, particularly in Balochistan, home to major projects such as the <a href="https://www.pakistantv.com/article/exim-bank-to-lend-125b-for-pakistans-coppergold-project-ft" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Reko Diq</a> copper-gold mine. According to the Geological Survey of Pakistan, the country holds an estimated $6 trillion worth of mineral assets. Despite this vast potential, much of it remains underdeveloped and untapped.

US and Pakistan sign critical minerals deal, aiming to unlock untapped resources and boost cooperation.

Articles tagged with "Reko Diq"

Pakistan invites Swedish firms to expand mining beyond Reko Diq

Pakistan highlights mineral potential, seeks global partnerships at Riyadh forum

Exim Bank to lend $1.25B for Reko Diq as part of $100B global energy push: FT

Pakistan’s Reko Diq copper project to generate $2.8B in first-year: finance minister

Pakistan approves $390 million railway plan for Balochistan mines

Digging into the future: US eyes Pakistan’s untapped mineral riches