Islamabad: Pakistan has signed a memorandum of understanding (MoU) worth USD 500 million with the US-based firm Strategic Metals (USSM), marking a significant step towards cooperation in the critical minerals sector.
The MoU was signed at the Prime Minister’s House between USSM and the Frontier Works Organisation (FWO). According to the US Embassy, the agreement reflects growing bilateral cooperation and aims to support Pakistan’s mineral development, processing, and infrastructure.
USSM, headquartered in Missouri, specialises in producing and recycling critical minerals, including cobalt, nickel, copper, and rare earth elements (REEs). The company also extracts metals from lithium-ion batteries, which are essential for advanced manufacturing and energy technologies.
Speaking at the signing, US Chargé d’Affaires Natalie Baker described the agreement as “another example of the strength of the US-Pakistan bilateral relationship that will benefit both countries.”
A statement from the Prime Minister’s Office said the USSM delegation held high-level meetings with the prime minister, chief of army staff, and senior government officials to explore opportunities in mining and value addition. Pakistan’s vast reserves of copper, gold, and REEs were highlighted as part of the discussions.
The visit also resulted in a second MoU between Pakistan’s National Logistics Corporation (NLC) and Mota-Engil Group, a global engineering and construction firm, focusing on logistics services to support mineral exports.
According to officials, the partnership will begin with the export of readily available minerals, including antimony, copper, gold, tungsten, and REEs, with the first phase envisaging investments of approximately USD 500 million in Pakistan’s critical minerals sector.
Both sides emphasised that the collaboration aims to generate long-term economic value through job creation, technology transfer, and sustainable development.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
