ISLAMABAD: Prime Minister Shehbaz Sharif Tuesday said that Pakistan was blessed with vast natural resources, confidently asserting that proper exploitation of these assets could end the nation’s reliance on IMF programmes, adding that both the federal and provincial governments can free themselves from crippling foreign debts.
He was addressing the two-day ‘Pakistan Minerals Investment Forum 2025’ that commenced here at the Jinnah Convention Centre to attract foreign direct investment and forge long-term partnerships Facilitation Council (SIFC) in which more than 300 delegates from across the globe were present. Governors, chief ministers, Chief of Army Staff General Syed Asim Munir, ministers, parliamentarians, representatives of various local and foreign companies and diplomats were also in attendance.
Terming the existing potential in the minerals sector beneficial for all, the prime minister invited the foreign investors and entrepreneurs to avail the investment-friendly policies of Pakistan in the minerals exploration sector by putting in their investment, technology, research and expertise. He observed that there was a win-win situation in Pakistan.
Mentioning that Pakistan was blessed with huge natural resources, Shehbaz said that he would say without any doubt that Pakistan could say goodbye to the IMF programme if these great assets were exploited. “With adequate tapping of the natural resources, the country and provinces can get rid of these mountains of loans, debts and the foreign borrowed money which had been costing them heavy,” he said, however, acknowledging that the global financial institution had been a great source of support for the country for decades.
He mentioned that Pakistan was blessed by Allah Almighty with huge natural resources spanning over the rugged mountains of Balochistan to snow covered mountains of Khyber Pakhtunkhwa and the tops of Gilgit Baltistan and Azad Jammu and Kashmir. He said the valleys of Sindh and plains of Punjab also possessed immense natural resources worth trillions of dollars.
He said that the vast rather arid areas in different parts of the country would soon be converted into industrial hubs, reassuring that with their collaborative efforts, all the governments, he himself, as the country’s chief executive, along with the dynamic army chief and the international partners would turn Pakistan into a developed and prosperous country in the world.
The prime minister also called upon the foreign investors to convert the existing opportunities into reality as they were vying without borrowing foreign loans, solid partnerships which would result into a win-win partnership.
He also welcomed all the companies from Europe, the US, the UK, China, Saudi Arabia, the UAE, Qatar, Turkiye and others to invest in country’s minerals sector.
He said the provincial governments had been working to provide conducive environment to the foreign investors as Sindh province had the largest coal deposits which could feed cement plants and other industrial units thus saving Pakistan’s valuable foreign reserves spent on importing coals. He also mentioned that Punjab had discovered the iron ores deposits in Chiniot while Khyber Pakhtunkhwa, AJK and Gilgit Baltistan had enormous potential in mining sector.
He said in the past, the foreign companies were issued permission for shipping out raw material from Pakistan but as per the government’s policy, they would not be allowed to carry raw material out of Pakistan. He emphasised that as a part of their integral policy, the foreign investors were encouraged to set up downstream industries to convert the raw material into finished form and then export it which would be a win-win situation for all. “Now this policy would be a cardinal principle of the international partnerships,” he said.
He noted that through the joint partnerships, the foreign investors would train the local youth with modern skills so that they could become entrepreneurs themselves.
The prime minister appreciated Minister for Energy Ali Pervaiz Malik, his team and all other relevant departments, besides the valuable support from the Army Chief and his colleagues, and the international partners for arranging and participating in the successful event.
He observed that the event was not only successful but also very productive. Besides, it gained the confidence of entrepreneurs sitting there, across Pakistan, and the entire world.
He also appreciated the commitment of Mark Bristow, President and CEO of Barrick Gold, to Reko Diq project and said that he was impressed with his acumen and steadfastness. “Under his commitment, the project stalled in the last 20 years, had witnessed considerable progress which would be a lesson for others,” the prime minister said.
In his address to the forum, Chief of Army Staff General Syed Asim Munir pledged that Pakistan Army would ensure complete security for investors, stating that economic security has become an essential component of national security..
The army chief said: “Pakistan Army will provide a strong security framework and take effective measures to safeguard interests and trust of business partners and investors,” telling the investors that they could trust Pakistan as a trustworthy partner.
“With vast mineral resources beneath their feet, skilled hands, and a transparent mineral policy, the Pakistani people have no room for despair or inaction. Move forward and strive -- for your country and for yourselves.”
“It is collective desire of the Pakistani people that in order to benefit from the mineral wealth, they want business partners and businessmen to utilise their expertise and wisdom,” he said.
The COAS was confident that Pakistan was ready to play a leading role in world’s mineral economy.
General Asim Munir while welcoming international organisations at the event asked them to introduce their expertise in the particular field in this part of the world and find investment opportunities and partner with Pakistan in development and progress of mineral resources.
He also pointed out that services of engineers, geologists, operators and professional mine workers were required for which Pakistani students were being sent abroad for education and training. At present, he said that 27 students from Balochistan were getting specialised training of mineral exploration in Argentina and Zambia. “Our objective is to create manpower, expertise and human resources for progress of the mineral sector,” he said. He that progress of downstream and upstream mineral industry in Pakistan would be ensured. He asked for the investment in sectors of refining and value addition for cost-effectiveness and attract the international market.
General Asim Munir also appreciated the Baloch notables who played an important role for progress of mineral sector and development of the Balochistan province.
“By working collectively particularly in the mineral sector, Pakistan can promote the regional development, prosperity and overall benefit of the country,” he said.
Addressing the event, Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, highlighting Pakistan’s strategic position to emerge as a global mining powerhouse, said that with this vast untapped mineral potential, the country’s resource corridor was primed to reshape global supply chains and attract investment.
He said that Pakistan also hosted vast resources of rare earth elements, industrial minerals, non-metalics and gemstones, including globally sought-after peridot and emerald. He said that the anchored in the Tethyan Metallogenic Belt — one of the world’s largest copper-gold zones, Pakistan was home to monumental reserves like the ‘Reko Diq’.
The deputy prime minister said that the forum was aimed at deliberating on a critical subject shaping economies, fuels technological progress, and held the potential for sustainable development across the globe — investment in the mineral sector.
He told the gathering that Pakistan was entering a new phase of economic progress as the government had taken tough but necessary decisions to stabilise the economy, resulting in increasingly visible key macroeconomic indicators.
Dar said that the Government of Pakistan had prioritised the strategic development of the minerals sector through progressive policy reforms and investor-centric initiatives.
He told the forum that by aligning its regulatory frameworks with competitive fiscal terms, Pakistan was positioning itself as a dynamic hub for sustainable, high-yield ventures in resource exploration, extraction, refining, logistics and infrastructure.
“To truly unlock the true potential of this sector, we need more than just capital... Investment in the mineral sector represents not only financial opportunity, but a vital step towards securing a sustainable and technologically advanced future for generations to come.”
He said that the forum provided a unique platform for stakeholders, friendly countries and partners to converge, explore new prospects and build mutually beneficial partnerships.
“This forum is anchored in the three pillars of Potential, People and Policy — a vision the Government of Pakistan is implementing to drive shared prosperity and sustainable growth... Let us fully appreciate the tremendous value of this sector and the responsibility that comes with it. Let us invest with purpose, with foresight, and with the collective well-being of the people of Pakistan in mind,” he added.
Meanwhile, in his remarks at the event, senior official at the US Department of State for South and Central Asian affairs Eric Meyer reaffirmed his country’s commitment to strengthening economic relations with Pakistan. “I’m thrilled to be here in Islamabad to experience Pakistan’s wonderful hospitality, attend this forum and strengthen and promote our important partnership.”
The US official commended Pakistan for taking steps to ensure a level-playing field for investors. He said that critical minerals were the raw materials for the US’s most important technologies, with President Trump underscoring the importance of securing America’s minerals future.
Meyer said that though he was in Islamabad to focus on minerals, he also wanted to highlight other recent successes in the US-Pakistan economic partnership. “We recently celebrated the return of US soybean exports to Pakistan. Four vessels carrying more than 260,000 tons of soybeans have arrived over the last few weeks. It’s a win-win for the US exporters and for Pakistanis alike, and we look forward to more such wins in the future.”
The official said he was most optimistic about the US-Pakistan partnership because the cooperation was based on the close and enduring ties between peoples. “Many of you have studied in the United States, participated in our exchange programmes, have family, friends and business partners in the US. I’m looking forward to working with each of you as we work together to lead the charge in deepening the partnership between the US and Pakistan,” he said.
According to the US State Department, Meyer is leading an interagency US delegation in Islamabad. From April 8 to April 10, he will “advance US interests in the critical minerals sector at the Pakistan Minerals Investment Forum and meet with senior Pakistani officials to expand opportunities for American businesses in Pakistan and promote the deepening of economic ties between our two countries.”
Meyer will also engage with senior officials to underscore the vital importance of continued collaboration on counterterrorism. Barrick Gold Corporation CEO Mark Bristow, in his address, said that the Reko Diq copper and gold project would become a “beacon that leads Pakistan” on the global mining map, adding that the project is a key milestone for Barrick Gold and Pakistan.
He added that Reko Diq will be a major contributor to Pakistan’s economy, “and will have a transformative impact on the underdeveloped Balochistan province”. He said that in 2022, the reconstitution of Reko Diq project was completed. “Reko Diq today is a 50-50 partnership between the people of Pakistan and Barrick,” he said.
Bristow said that in 2024 the feasibility study of Reko Diq was completed, which revealed that the mines have 15 million tons of copper reserves and 26 million ounces of gold.
“This mine is set to become one of the lowest-cost copper producers in the world,” he said. “There is every reason to believe that Reko Diq will still be operating past the end of this century.”
He informed the participants that the first production is scheduled to commence in 2028 and targets 240,000 tons of copper per annum and 300,000 ounces of gold per annum. “It will grow to 400,000 tons per annum of copper and 500,000 per annum of gold during phase two,” he said.
Bristow said that apart from economic benefits, the mine would generate thousands of job opportunities. “During peak construction, Reko Diq is expected to employ more than 7,500 people. Once in production, it is expected to create approximately 4,000 direct long-term jobs,” he said, adding that Barrick prioritises local employment.
“I can say confidently that there is still so much more to explore and invest in Pakistan,” said Bristow, adding that his company is still finding porphyry bodies in Reko Diq. “Reko Diq is just a starter mine, there is lots more to come.”
Bristow said that the Pakistan Minerals Investment Forum marks the commencement of a brand new mining frontier, “which is about to put Pakistan on the world stage when it comes to mining and its potential to compete against countries like Chile, Peru, DRC and Zambia”.
The prime minister, Chief of Army Staff and the chief ministers also witnessed signing of different MoUs and agreements in the minerals sector.
In a significant development, Pakistan and Turkiye have signed a landmark joint bidding agreement to explore offshore oil and gas blocks, marking a strategic step to attract foreign investment and technology into Pakistan’s underdeveloped offshore energy sector.
The deal, inked on the sidelines of the Pakistan Minerals Investment Forum 2025, would see three of Pakistan’s top state-run exploration firms—Mari Energies Limited, Oil & Gas Development Company Ltd (OGDCL), and Pakistan Petroleum Ltd (PPL)—join hands with Turkish energy heavyweight Türkiye Petrolleri Anonim Ortakl (TPAO) to bid for offshore blocks announced earlier this year.
In February, Pakistan launched an ambitious offshore licensing round, offering 40 exploration blocks in the Makran and Indus basins, aiming to draw international capital and expertise into its upstream sector. The agreement signals growing energy cooperation between the two countries at a time when Islamabad is urgently seeking to tap new hydrocarbon resources and reduce its reliance on costly fuel imports.
“This collaboration is not only about investment—it’s about leveraging global expertise to unlock our offshore potential,” said Petroleum Minister Ali Pervaiz Malik, who witnessed the signing alongside his Turkish counterpart Alparslan Bayraktar. Malik emphasised that seismic data points to significant untapped reserves in Pakistan’s offshore zones and vowed full state support for joint ventures.
Meanwhile, the National Resources Limited (NRL) has announced the discovery of significant copper-gold mineralisation in Chagai, Balochistan. The revelation was made by Muhammad Ali Tabba, Chairman of NRL and CEO of Lucky Cement Limited, during his address at the Pakistan Minerals Investment Forum 2025.
The NRL, a fully Pakistani-owned private company and subsidiary of Fatima Fertiliser, Liberty Mills Limited, and Lucky Cement, was granted a mining lease in October 2023. The licensed area includes two known porphyry prospects with strong exploration potential. Over the past 15 months, the NRL has identified 18 new prospects, with one—named “Tang Kaur”—progressing rapidly to an advanced drilling stage.
In addition to its copper-gold exploration, the NRL has secured a licence for lead-zinc exploration adjacent to a known deposit, where a bankable feasibility study has already been completed. The company is also evaluating the feasibility of downstream processing as part of a comprehensive metal value chain.
Tabba emphasised NRL’s commitment to local communities, stating that indigenous populations are key stakeholders. The company supports social development through clean water initiatives, education, healthcare, and local employment, with over 90% of its workforce sourced locally. “Mining prospers only when local communities benefit directly,” he said.
The NRL is collaborating with the Balochistan government and the SIFC to secure two additional copper-gold exploration licences in Chagai, backed by a $100 million exploration fund. The company has also signed an MoU with the OGDCL for joint work on newly acquired leases, Tabba said.
Meanwhile, in a meeting with Robert Maersk, BoD Chairman of global shipping company A P Moller-Maersk, the prime minister welcomed the company’s investment of $2 billion in the country, a PM Office news release said.
The PM directed to form a technical working group to expedite the process of forming a partnership agreement in the maritime sector with the global shipping company. He also directed the authorities concerned to ensure that the memorandums signed with Maersk in the previous year should be transformed into agreements as soon as possible.
The prime minister directed the working group to submit recommendations within a month and added that it was high time to remove all barriers and bring the maritime sector at par with global competitive standards. He said: “The investment in Pakistan by A. P Moller Maersk will bring about a large-scale positive change in Pakistan’s maritime sector.”
Meanwhile, Turkiye’s Minister for Energy and Natural Resources Alparslan Bayraktar called on the prime minister and expressed keen interest in minerals sector of Pakistan, especially discovery of rare minerals. The prime minister said there were many opportunities to further expand the economic relations between the two countries.
Separately, the prime minister met with the Azerbaijan Minister of Economy Mikayil Jabbarov, along with his delegation, where the two sides agreed to further strengthen cooperation in sectors such as minerals and mining, oil exploration, renewable energy, information technology, infrastructure development for regional connectivity, defense, hospitality and tourism, and human resource development.
Meanwhile, a high-level Saudi delegation led by Abdulrahman Al-Belushi, Deputy Minister for Mining and Federal Minister for Petroleum Ali Pervaiz Malik, discussed strengthening bilateral cooperation in the energy and mineral sectors. The meeting took place on the sidelines of the Pakistan Minerals Investment Forum 2025.
