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Tag: Pakistan Minerals Investment Forum

  • PM Shehbaz, Barrick Chairman Discuss Investment in Pakistan

    PM Shehbaz, Barrick Chairman Discuss Investment in Pakistan

    Prime Minister Shehbaz Sharif met a delegation of Barrick Mining Corporation led by its chairman, John L. Thornton, in Islamabad on Friday, and welcomed the company’s interest in Pakistan’s mineral sector, saying projects such as Reko Diq would create jobs, provide skills training and bring new economic opportunities to the people of Balochistan.

    The prime minister said Pakistan was rich in natural resources and valuable minerals that could play an important role in improving the economy and bringing prosperity to the people, according to a Prime Minister’s Office statement reported by 24NewsHD.

    He stressed that local communities must benefit directly from mining projects through employment, training opportunities for young people and better facilities in areas near the projects. He described Reko Diq as a major achievement for Pakistan’s mining sector and said its successful completion would encourage more foreign investment in the country.

    The two sides discussed the policies, rules and facilities needed to develop the mineral sector, and the prime minister said the government was working to provide a business-friendly environment through better policies, improved infrastructure and modern technology. He also invited Barrick to use its experience and expertise in mining projects beyond Reko Diq.

    The Barrick delegation appreciated the government’s efforts to organise the Pakistan Minerals Investment Forum and described it as an important step towards promoting the country’s mineral wealth. It also expressed interest in investing in mineral processing industries in Karachi and Gwadar, according to the Prime Minister’s Office.

    The meeting took place during the Pakistan Minerals Investment Forum, held in Islamabad on November 12 and 13, which brought together government officials, international mining companies and investors.

    Reko Diq, in Balochistan’s Chagai district, is described by Barrick as one of the world’s largest undeveloped copper-gold projects. Barrick holds a 50 per cent interest in the project, while three federal state-owned enterprises collectively own 25 per cent and the Balochistan government holds the remaining 25 per cent. The project was reconstituted in December 2022.

    Barrick is currently reviewing the project’s development plans. In an April statement, the company said it would slow development activity and continue its review until mid-2027, citing heightened security risks and the need to reassess financing, capital requirements, scope and scheduling. Its November 9 results continued to describe Reko Diq as under review, and Friday’s statement from the Prime Minister’s Office did not announce any change to that review or provide a revised production date.

    The engagement followed separate talks in Islamabad on November 12 between Planning Minister Ahsan Iqbal and Barrick’s senior leadership on improving transport links between Balochistan’s mineral-producing areas and ports, including the proposed Nokundi-Gwadar road corridor. Those discussions concerned enabling infrastructure and did not constitute approval of the processing investments mentioned in Friday’s meeting.

    Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Petroleum Minister Ali Pervaiz Malik, special assistants Tariq Fatemi and Lieutenant General (retd) Muhammad Zafar Iqbal, and other senior government officials also attended the meeting with the prime minister.

  • Copper-Gold Discoveries Announced in Chagai, Balochistan

    Copper-Gold Discoveries Announced in Chagai, Balochistan

    Two Pakistani companies have announced significant copper and gold discoveries in Balochistan’s Chagai district, in separate announcements made at the Pakistan Minerals Investment Forum 2026 in Islamabad.

    National Resources Limited (NRL), a Pakistani-owned mineral exploration company, said it had identified copper and gold mineralisation across at least eight porphyry discoveries in the Darigwan area of Chagai, after nearly 25,000 metres of drilling. One drill hole returned 295 metres of continuous mineralisation grading 0.43 percent copper and 0.13 grams of gold per tonne, including a 132-metre stretch grading 0.83 percent copper, chairman Muhammad Ali Tabba told the forum.

    The discoveries span 5.6 square kilometres, adjoining NRL’s earlier copper-gold find at the Tang Kaur porphyry system. Tabba said further work at exploration licence EL214 was expected to establish substantial resources, subject to the completion of exploration and a formal resource estimate.

    In a separate announcement, Mari Energies Limited told the Pakistan Stock Exchange that it had made a significant copper-gold discovery at its East Siah Diq (ESD-1) target in Chagai, through its wholly owned subsidiary Mari Minerals. The site lies about 50 kilometres east of the Reko Diq copper-gold mine project and 25 kilometres northwest of Nokkundi, in the Koh-i-Sultan area.

    Mari Minerals completed about 25,000 metres of exploration drilling at ESD-1 in two phases, with drill holes reaching depths of up to 500 metres. The results identified porphyry-style copper mineralisation across about 1.4 square kilometres. Assay results from the first phase included a 400.25-metre interval grading 0.50 percent copper and 0.11 grams of gold per tonne, while laboratory analysis of the second phase is expected to be completed in the first quarter of 2027.

    Still at the exploration stage

    Both companies stressed that the findings are at the exploration stage and do not yet constitute a mineral resource or reserve. Mari Energies said further drilling, geological interpretation, metallurgical testing, resource estimation and technical studies would be needed before the scale, grade, continuity and economic significance of the mineralisation could be determined.

    NRL said preliminary resource estimates had been prepared by a separate consultant but were being withheld until they met international reporting standards. The company plans to begin environmental, hydrogeological, metallurgical and geotechnical studies in 2027, aiming to complete a bankable feasibility study by the end of the decade. Tabba also reaffirmed the company’s 100 million dollar commitment to mineral exploration in Pakistan.

    Mari Minerals, which was set up in July 2023 to pursue mineral mining projects, signed an agreement with mining company Ivanhoe Atlantic a day earlier for the exploration of copper and gold deposits in Chagai. NRL, a joint venture of Fatima Fertilisers, Liberty Mills and Lucky Cement, holds five exploration licences in Balochistan, covering two copper-gold projects, one lead-zinc project and two antimony projects.

    Chagai already hosts the Reko Diq project, one of the world’s largest undeveloped copper-gold deposits, and the new announcements add to the district’s standing as Pakistan’s copper-gold belt.

  • Pakistan Minerals Forum Opens: $8 Trillion Treasure Hunt

    Pakistan Minerals Forum Opens: $8 Trillion Treasure Hunt

    Islamabad is hosting some of the biggest names in global mining this week as the two-day Pakistan Minerals Investment Forum 2026 opened at the Jinnah Convention Centre on Thursday, putting the country’s vast underground wealth firmly in the international spotlight.

    The forum, which runs on 12 and 13 November, has drawn more than 5,000 delegates from over 50 countries, according to the organisers, including mining executives, financiers, engineers and government officials. It is organised by the Government of Pakistan with the support of the Special Investment Facilitation Council, with the Oil and Gas Development Company as its founding partner.

    Deputy Prime Minister Ishaq Dar inaugurated the event, while Prime Minister Shehbaz Sharif is scheduled to chair the concluding session on Friday. The gathering is the third edition of the forum, following earlier events in 2023 and 2025, but this year’s edition is being pitched as a shift from talk to execution, with a sharper focus on project financing, production timelines and getting Pakistani minerals into global supply chains.

    What is on the table

    At the heart of the discussions is a striking claim from the forum’s background material: Pakistan’s mineral resources carry an estimated potential value of between $6 trillion and $8 trillion. The showcase project held up as the model is the Reko Diq copper and gold mine in Balochistan, led by Barrick Gold, which organisers present as proof that large-scale mining can work in Pakistan.

    Sessions over the two days cover exploration and new mining projects, early-stage financing, and the technology needed to process minerals at home rather than exporting raw ore. An international exhibition of mining technology and ventures is running alongside the conference, and senior figures from global mining houses, including Barrick chairman John L. Thornton and Ivanhoe Mines founder Robert Friedland, are among the headline speakers.

    Forum president Ahmed Hayat Lak, who is also the managing director and chief executive of OGDCL, is leading the event, with energy consultancy Wood Mackenzie acting as the lead conference producer. Chief ministers from the provinces are also taking part in a session on turning provincial mineral potential into prosperity, a recognition that much of the country’s mineral wealth sits in Balochistan, Khyber Pakhtunkhwa and Gilgit-Baltistan.

    High hopes, and a note of caution

    For the government, the forum is a chance to present Pakistan as the next destination for critical minerals, at a time when the world is scrambling for copper, lithium and rare earths to power electric vehicles and clean energy. Copper, lithium, rare earths, industrial minerals and gemstones are all on the agenda, and officials hope the event will convert interest into signed deals and investment commitments.

    Not everyone is cheering. The Baloch National Movement, a Baloch rights group, has raised concerns about the forum, arguing that the mineral wealth of Balochistan should first benefit the people of the province. The group described the event as an attempt to turn local resources into an international business without addressing local deprivation, a reminder that the politics of who owns and benefits from the minerals will run alongside the investment pitches.

    Investors, for their part, will be watching for more than warm words. As analysts note, forums can open doors, but long-term stability, clear rules and reliable infrastructure decide whether money actually flows. Whether this week’s gathering produces concrete agreements or simply another round of promises will become clear when the concluding session wraps up on Friday.

  • Dar to Open Margalla Dialogue Today as PM Flies to COP31 in Turkiye

    Dar to Open Margalla Dialogue Today as PM Flies to COP31 in Turkiye

    Deputy Prime Minister and Foreign Minister Senator Ishaq Dar will inaugurate the two-day Margalla Dialogue 2026 in Islamabad today, staying back in the federal capital while Prime Minister Shehbaz Sharif departs for Turkiye to attend the COP31 climate conference.

    The prime minister is travelling to Turkiye on Tuesday to attend the 31st United Nations Climate Change Conference in the historic city of Antalya, which begins on Wednesday and will be inaugurated by Turkish President Recep Tayyip Erdogan. Foreign Secretary Asim Iftikhar Ahmad is likely to accompany the prime minister.

    According to highly placed diplomatic sources, Dar had to stay back to inaugurate the Margalla Dialogue and the Pakistan Minerals Investment Forum in Islamabad, and no other conclusion should be drawn from the development. It would be difficult to postpone either event, the sources said.

    The Margalla Dialogue 2026, organised annually by the Islamabad Policy Research Institute, is a premier forum on foreign policy and security. This year’s theme is “Global Order in Transition — Navigating Strategic Uncertainty”, covering shifting global power dynamics, evolving alliances and major power competition.

    The dialogue will also cover regional geopolitics, national resilience, international law and economic security, including trade and tariff wars. One forum will discuss the changing dynamics of global power and their implications for international peace and security, while another will examine global security, algorithmic warfare and artificial intelligence — including sovereign AI, data regulations and technology risks.

    Another major gathering, the Pakistan Minerals Investment Forum, begins in Islamabad on Thursday, November 12, at the Jinnah Convention Centre. Dar will inaugurate it, while the prime minister will chair the concluding session on Friday, November 13.

    The minerals forum is viewed as a strategic conference on policy and governance, covering exploration and projects such as Reko Diq, alongside an international exhibition for mining technology and ventures. Energy Minister Ali Pervaiz Malik, Finance Minister Senator Muhammad Aurangzeb, Robert Friedland of Ivanhoe Mines, John L. Thornton of Barrick Mining and Isabel Chatterton of the Asian Development Bank are among the key speakers.

    The forum is being produced by Wood Mackenzie as lead conference producer, with the forum’s president and Oil and Gas Development Company managing director Ahmed Hayat Lak leading the organisation.