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Pakistan signs 13 mining agreements at PMIF 2026 as lenders signal $1.3 billion financing interest
Partnerships target copper, gold and critical mineral exploration in Balochistan, alongside geological surveys, laboratory development and technical cooperation with international agencies
ISLAMABAD: Pakistan signed 13 agreements and memoranda of understanding (MoU) with international mining companies and geological institutions during the two-day Pakistan Minerals Investment Forum (PMIF) 2026, while foreign lenders, including the US Export-Import Bank, expressed interest in providing $1.3 billion in financing for mining projects.
The agreements cover mineral exploration and development, geological surveys, laboratory infrastructure and technical cooperation, with several partnerships focusing on copper, gold and critical mineral deposits in Balochistan.
Oil and Gas Development Company Limited (OGDCL) Managing Director Ahmed Hayat, speaking to the media, said international participation had increased considerably compared with last year's forum, reflecting growing interest in Pakistan's mineral resources and investment opportunities.
Companies from the United States, China, Canada and the European Union established pavilions at the event, while mining companies and geological agencies from Türkiye, the United Kingdom, Germany, Japan and Australia were involved in agreements covering exploration and technical development.
Hayat attributed the increased investor interest to improvements in Pakistan's regulatory and legal environment, particularly greater stability in licensing policies.
He said major international banks had indicated their willingness to finance mining projects, with the potential financing discussed at the forum reaching $1.3 billion.
The financing interest, however, was separate from the agreements signed during the event, which primarily established frameworks for cooperation, exploration and future project development.
Among the major agreements, Mari Minerals entered into three separate strategic arrangements for mineral exploration in Chagai, Balochistan, involving Turkish mining companies and Ivanhoe Atlantic.
The company signed a strategic framework with Türkiye's Lidya Mining for mineral exploration and development in Chagai. Mustafa Aksoy, chief executive officer of Lidya Mining, exchanged the agreement.
Mari Minerals also entered into a joint venture framework with MTA International Company (MTAIC), another Turkish entity, to explore and develop copper, gold and associated mineral deposits in the district.
Dr Nail Yildirim, general manager of MTAIC, represented the Turkish company during the exchange.
A separate agreement between Mari Minerals and Ivanhoe Atlantic established a framework for mineral exploration and mining projects in Chagai. The documents were exchanged by Mari Minerals Managing Director and Chief Executive Officer Faheem Haider and Bradley Doig, chief executive officer of I-Pulse Technologies.
The Frontier Works Organisation (FWO) also signed a memorandum of understanding with Ivanhoe Mines to collaborate on mineral exploration and mining projects in Chagai.
FWO Chief Executive Officer Engineer Abdul Sami and Ivanhoe Mines founder and co-chairman Robert Friedland exchanged the agreement.
The Pakistan Mineral Development Corporation (PMDC), meanwhile, entered into a partnership with MTAIC to explore antimony, copper, gold, silver, molybdenum and other critical minerals in Pishin, Balochistan.
PMDC Chief Executive Officer Engineer Asad and MTAIC General Manager Dr Nail Yildirim exchanged the agreement.
Another partnership involving PMDC and UK-based International Geosciences Services will focus on assessing gemstone resources in accordance with the Joint Ore Reserves Committee (JORC) reporting standards and developing a model mine that could be replicated elsewhere.
British High Commissioner Jane Marriott, Dr Fergal Murphy and PMDC Chief Executive Officer Engineer Asad participated in the agreement exchange.
Alongside mineral exploration, the forum produced agreements intended to strengthen Pakistan's domestic capacity to test mineral samples and conduct geological investigations.
Mari Minerals and UK-based MSALABS Limited, a subsidiary of Capital Limited, formed a joint venture incorporated as Mari MSA Labs (Private) Limited to establish a commercial mineral assay laboratory in Pakistan.
The proposed facility is intended to provide mineral testing and analytical services, an important component of exploration programmes that require laboratory assessment of samples to determine their mineral content and quality.
Brian Rudd, executive director of Capital Limited, attended the agreement exchange.
Globacore Minerals signed two separate agreements involving advanced geological exploration technologies.
The first, with Shift Geophysics and Southern Geosciences, covers airborne geophysical surveys, which can help identify geological structures and potential mineral-bearing areas by collecting measurements from aircraft.
The agreement was exchanged by Globacore Chief Executive Officer Ali Mukhtar and Development Manager Takashi Sato.
Globacore also partnered with Fleet Space ANT for ambient noise tomography, a technology used to investigate underground geological structures through seismic measurements.
Fleet Space was represented by Executive Sales Leader Patricio James.
The Geological Survey of Pakistan (GSP) secured four international cooperation arrangements aimed at improving geological research, technical capabilities and institutional coordination.
Pakistan and Japan exchanged a statement of intent to strengthen support for the GSP, with Japanese Ambassador Akamatsu Shuichi and Ministry of Energy Secretary Hamed Yaqub Sheikh representing the two sides.
A tripartite memorandum of understanding was also signed between the GSP, Türkiye's General Directorate of Mineral Research and Exploration (MTA), and MTAIC.
The agreement was exchanged by GSP Director General Adnan Alam Awan, MTA Director General Vedat Yanik and MTAIC General Manager Dr Nail Yildirim.
Germany's Federal Institute for Geosciences and Natural Resources (BGR) entered into an agreement with the GSP covering geoscientific cooperation.
GSP Director General Adnan Alam Awan and BGR Vice President Dr Volker Steinbach exchanged the documents.
The GSP also signed an agreement with the British Geological Survey, represented at the exchange by British High Commissioner Jane Marriott and Dr Hamid Ashraf.
During the event, Marriott presented a commemorative shield to GSP Director General Adnan Alam Awan to mark the completion of a capacity-building programme undertaken through the UK-supported Revenue Mobilisation, Investment and Trade (REMIT) initiative.
Speaking about the broader investment outlook, Hayat said the participation of international mining companies and financial institutions indicated that Pakistan's mineral sector was moving towards a greater emphasis on investment and project development.
He also referred to the Reko Diq copper and gold project in Balochistan as an example of Pakistan's ability to attract and retain international investment in large-scale mining operations.
Hayat said Barrick's global chairman and senior management team had attended the forum and remained committed to accelerating progress on the Reko Diq project.
According to him, a project development strategy was being prepared to support the project's timely and cost-effective completion.
The OGDCL managing director also pointed to the agreements between the Geological Survey of Pakistan and foreign geological institutions as an important development for strengthening the country's mineral exploration capabilities.
