Australian Companies Express Strong Interest in Reko Diq Copper-Gold Project
ISLAMABAD – In a significant development for Pakistan's mining industry, more Australian companies have expressed strong interest in participating in the Reko Diq copper-gold project located in Balochistan. This interest emerged during a high-level meeting between Federal Minister Ali Pervaiz Malik and Australia's High Commissioner to Pakistan, Timothy Kane, held in Islamabad on Tuesday. The discussions focused on enhancing bilateral cooperation in the mining and gemstones sectors, highlighting the growing international attention on Pakistan's mineral resources.
Bilateral Discussions on Mining and Gemstones Cooperation
During the meeting, the Australian High Commissioner noted that Australian companies are already actively involved in the Reko Diq project, with additional firms showing keen interest in joining this major venture. He further stated that Australian companies would be encouraged to participate in the upcoming Pakistan Minerals Investment Forum (PMIF), expressing hope for a robust Australian presence at the event. This move underscores the strategic importance of the Reko Diq project, which is poised to become a cornerstone of Pakistan's mining sector.
Pakistan's Untapped Mineral Potential and Proposed Agreements
Federal Minister Ali Pervaiz Malik welcomed the strong interest from Australian companies and highlighted Pakistan's immense untapped mineral potential, particularly in the Tethyan Belt. He proposed the possibility of an Intergovernmental Agreement (IGA) between Pakistan and Australia to promote structured and long-term cooperation in the mining sector. This agreement aims to formalise collaboration, ensuring mutual benefits and sustainable development in the industry.
Efforts to Formalise the Gemstones Sector
Ali Pervaiz Malik also underscored the Government of Pakistan's efforts to develop and formalise the gemstones sector, emphasising its potential for value addition, exports, and employment generation. He pointed out that this sector holds significant opportunities for economic growth, and international cooperation could accelerate its development through knowledge exchange and technical assistance.
Global Importance of Copper and Gold for Energy Transition
Highlighting the growing global importance of copper and gold for the energy transition, the Australian High Commissioner observed that Pakistan's mining sector has attracted significant international attention. He expressed optimism for collaboration in the gemstones sector, suggesting avenues such as knowledge exchange, trainings, and technical assistance to enhance Pakistan's capabilities in this field.
Appreciation for Australian Support and Recent Engagements
The federal minister appreciated Australia's willingness to support Pakistan in its journey toward formalising the mineral sector, terming such cooperation reassuring and timely. He recalled his recent visit to Australia for the International Mining and Resources Conference (IMARC), during which fruitful discussions were held with leading and junior Australian mining companies on investment and cooperation opportunities in Pakistan's minerals sector.
Commitment to Strengthening Bilateral Ties
Both sides reaffirmed their commitment to strengthening Pakistan-Australia cooperation in the mining and gemstones sectors for mutual benefit. This commitment is expected to pave the way for increased investment, technology transfer, and job creation, contributing to Pakistan's economic development and global standing in the mining industry.
