Pakistan Signs $500M US Deal to Develop Critical Minerals

Pakistan has signed a $500 million investment deal with United States Strategic Metals (USSM) to develop its critical minerals sector, marking a significant step in Pakistan-US economic cooperation. The agreement involves the Frontier Works Organization (FWO), Pakistan's largest miner of critical minerals, and includes plans to establish a poly-metallic refinery in Pakistan to process minerals such as antimony, copper, gold, tungsten, and rare earth elements, which are vital for defense, aerospace, and advanced technology industries. The deal was finalized during meetings attended by Prime Minister Shehbaz Sharif, Deputy Prime Minister Ishaq Dar, Chief of Army Staff Field Marshal Syed Asim Munir, and federal ministers, highlighting the strategic importance of the partnership. Alongside USSM, the Portuguese engineering and construction company Mota-Engil signed a separate memorandum with Pakistan's National Logistics Corporation to enhance logistics and infrastructure linked to mining projects. This collaboration aims to boost Pakistan’s mineral processing capacity, promote large-scale infrastructure projects, and increase exports to meet rising demand in the US market. The investment is seen as a transformative move for Pakistan’s economy and a testament to strengthening bilateral ties between the two countries.