ISLAMABAD (Web Desk) - Pakistani private company Himalayan Earth Exploration (HEE) and an American listed company Nova Minerals Limited recently formed a joint venture to develop critical minerals in Pakistan, an official said.
Islamabad has sought to attract foreign investment in its critical minerals sector in recent months. In April this year, Pakistan hosted an international minerals summit where top companies and government officials from the US, Saudi Arabia, China, Turkiye, the UK, Azerbaijan, and other nations attended.
Pakistan is rich in gold, copper and lithium reserves as well as other minerals, yet its mineral sector contributes only 3.2 percent to the country’s GDP and 0.1 percent to global exports, according to official figures.
“Pakistan’s Himalayan Earth Exploration (HEE) and US-listed Nova Minerals (NASDAQ/ASX: NVA) sign strategic partnership to develop Pakistan’s critical minerals & rare earths,” Pakistan’s Adviser to Finance Minister Khurram Schehzad wrote on social media platform X.
HEE is a subsidiary of the Chinar and Gohar construction groups in Pakistan. The HEE is already leading mineral exploration across Pakistan with a 35 square kilometer placer gold project and a potential 111-kilometer mineral corridor in the northwestern Khyber Pakhtunkhwa province.