KARACHI: Pakistan has expanded its international push to attract investment in its minerals and mining sectors, turning to Germany for bilateral cooperation after similar engagements with the US and France as Islamabad seeks technology, expertise, and long-term partnerships to unlock its resource potential.
The development came as Petroleum minister Ali Pervaiz Malik discussed unlocking the potential for bilateral cooperation in Pakistan’s mining, minerals, and energy sectors with German Ambassador to Pakistan H.E. Ms. Ina Lepel on Tuesday at the Ministry of Energy in Islamabad. Janine Rohwer, Political and Economic Counsellor, was also present in the meeting.
“There is a lot of potential in Pakistan’s mining and natural resources sector,” stated Ambassador Lepel during the meeting, according to a statement from the Petroleum Division.
“The international interest in Pakistan’s mining sector is encouraging, and the Reko Diq project stands as a crucial test case for attracting further international investment,” she said.
Reko Diq is a massive copper and gold deposit located in Balochistan, Pakistan, which is believed to be one of the world’s largest. The project is a joint venture between Barrick Gold and Pakistani stakeholders.
The ambassador also pointed towards specific avenues for technical collaboration, suggesting that the “Geological Survey of Pakistan and the German Federal Institute for Geosciences and Natural Resources (BGR) have significant potential for collaboration”.
Last week, Pakistan and France authorities explored avenues for collaboration in the minerals and mining sectors as both sides highlighted investment opportunities and partnerships during a high-level webinar.
The session discussed collaborative frameworks between Pakistani and French companies for exploration, processing, and value addition in the minerals supply chain.
In September this year, Pakistan and the United States (US) signed a memorandum of understanding (MoU) worth $500 million to strengthen cooperation in the critical minerals sector, marking a step toward deeper economic and strategic engagement between the two countries.
Later in October, Pakistan delivered its first batch of rare earth elements and critical minerals to US Strategic Metals (USSM) in the United States.
According to PRNewswire then, in the first shipment, Pakistan indigenously sourced and prepared antimony, copper concentrate, and rare earth elements with neodymium and praseodymium.
Meanwhile, Ali Pervaiz Malik detailed the government’s focus on modernising the sector during the Tuesday’s meeting with German ambassador.
“Our vision is clear: we are focused on promoting sustainable and mechanised mining practices. In this regard, the Reko Diq project is the torchbearer, setting a new benchmark for large-scale, responsible mining in Pakistan,” the minister said.
“The next edition of the Pakistan Mineral Investment Forum will be even bigger, showcasing the extensive opportunities we have to offer to global investors.”
The discussions also extended to the energy sector, where Minister Malik outlined Pakistan’s commitment to environmental sustainability.
“Pakistan is actively working on a comprehensive refinery upgrade programme. This initiative is not only crucial for meeting our domestic fuel quality standards but also aligns perfectly with Germany’s strong policy focus on decarbonisation and a green transition. Both our countries can collaborate effectively on this front,” he added.
“To enhance our energy security, Pakistan is focused on indigenising our fuel supplies. In a landmark move after almost two decades, we have successfully conducted a bidding round for offshore exploration blocks, signaling a new era of investment in our upstream sector.”
Both sides reaffirmed their commitment to deepening the Pakistan-Germany strategic partnership and agreed to work together paving the way for tangible investments and knowledge sharing, the Petroleum Division said.
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