Prime Minister Shehbaz Sharif has urged authorities to ensure that local communities, particularly in Balochistan, benefit directly from Pakistan’s mineral development projects, as international mining companies Barrick Mining Corporation and Ivanhoe Mines signaled interest in expanding their investments in the country.
Chairing a meeting with a delegation of Barrick Mining Corporation, led by its Chairman John Thornton, the prime minister emphasized that effectively utilizing Balochistan’s natural resources and mineral wealth was essential for the province’s development and public prosperity, a Prime Minister’s Office news release said.
He stressed that local people, especially young people in Balochistan, should have access to employment, skills training and improved economic opportunities arising from mining activities.
Welcoming Barrick Mining Corporation’s participation in the Pakistan Minerals Investment Forum, the prime minister described the Reko Diq project as a major milestone for investment in the country’s mineral sector and a project of strategic importance to Pakistan’s economic future.
He said the successful implementation of Reko Diq would establish a benchmark for future investment in the country’s mining sector and help create new opportunities for international investors.
The prime minister said Pakistan was committed to utilizing its extensive mineral resources and developing an enabling environment for investment through improved trade and investment policies, infrastructure development and modern technology.
During the meeting, both sides discussed the policy, regulatory and infrastructure frameworks required to promote investment in Pakistan’s mineral sector.
The Barrick delegation expressed interest in establishing mineral processing industries in Karachi and Gwadar.
In a separate meeting with Ivanhoe Mines founder and executive co-chairman Robert Friedland, Prime Minister Shehbaz Sharif offered full government facilitation for investment in the exploration and development of copper, gold and other critical minerals.
During a meeting with Founder and Executive Co-Chairman of Ivanhoe Mines, Robert Friedland, the prime minister said Pakistan was rich in mineral resources and was committed to working with international partners to harness its vast mineral potential.
He welcomed Ivanhoe Mines’ interest in investing in Pakistan and its cooperation with local partners, saying the government’s priority was to provide a conducive environment for investment in the mineral sector.
The prime minister said the recognition of Pakistan as a preferred destination for mineral investment reflected growing confidence among international investors in the country’s mineral potential and investment climate.
He also welcomed the exchange of memorandums of understanding (MoUs) during the Pakistan Minerals Investment Forum, describing it as a positive development towards strengthening cooperation in the sector.
Prime Minister Shehbaz assured the visiting delegation that the Special Investment Facilitation Council (SIFC) would extend full support and facilitation to Ivanhoe Mines for its investment-related initiatives in Pakistan.
Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Federal Ministers Muhammad Aurangzeb and Ali Pervaiz Malik, Special Assistant Tariq Fatemi and SAPM on Energy Lieutenant General (Retd) Muhammad Zafar Iqbal, along with senior officials concerned, attended the meeting.
