Islamabad: Pakistan is emerging as a potential supplier in the global race for critical minerals, with rising interest from US companies in antimony creating new opportunities for the country’s mining sector, according to a recent report by the Financial Times (FT).
Historically, Pakistan’s antimony production, sourced largely from artisanal mines in the north-western mountainous regions, was primarily sold to Chinese intermediaries at comparatively low prices. However, increasing concerns over China’s dominance in the global minerals supply chain have prompted US defence-linked companies to explore alternative sources, including Pakistan.
Liaqat Ali Sultan, CEO of Himalayan Earth Exploration, told FT that conversations regarding antimony, which had been ongoing for several years, are now gaining traction with both Pakistani stakeholders and US buyers. The metal, vital for the production of missiles, batteries, and flame retardants, has seen its price rise to around USD 40,000 per tonne amid global supply concerns.
Himalayan Earth Exploration recently signed a strategic partnership with Nova Minerals, a US-listed mining exploration and development company, to explore and develop antimony resources in Pakistan. Nova Minerals CEO, Christopher Gerteisen, confirmed that the company plans to purchase over 100 tonnes of Pakistani antimony concentrate early next year for testing and processing in Alaska. There are also possibilities for downstream processing in Pakistan in the future.
In addition, the Frontier Works Organisation (FWO) and US Strategic Metals (USSM) signed a memorandum of understanding worth USD 500 million in September to strengthen cooperation in the critical minerals sector. A small sample of Pakistani antimony was provided to USSM in October for quality testing.
Despite holding only around 1% of the world’s antimony reserves and producing limited quantities, Pakistan has gained attention due to the strategic importance of its mineral resources. Miners have noted, however, that the country remains at the lower end of the value chain, with little local processing or refining capability.
FT reports that US buyers are willing to offer prices well above those of Chinese competitors, reflecting the growing strategic interest in diversifying critical mineral supply chains. Pakistani experts and industry officials see this as an opportunity to attract investment, develop the sector, and increase value addition within the country.
The developments mark a significant step toward deeper economic and strategic engagement between Pakistan and the United States in the critical minerals sector.
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.
