Summary Federal Petroleum Minister Ali Pervaiz Malik witnesses agreement between Ivanhoe Mines and Mari Minerals to explore copper and gold deposits in Chagai.
ISLAMABAD (Dunya News) - Pakistan's mineral sector has witnessed a significant development as Federal Petroleum Minister Ali Pervaiz Malik held key meetings with heads of international mining and investment companies on the sidelines of the Minerals Investment Forum.
Ivanhoe Mines and Mari Minerals have signed an agreement to explore copper and gold deposits in Balochistan's Chagai district. Federal Petroleum Minister Ali Pervaiz Malik attended the signing ceremony.
Under the agreement, the two companies will explore copper and gold deposits in Chagai and assess the potential of its mineral resources.
The federal petroleum minister also met Barrick Corporation Chairman John Thornton and the company's senior leadership.
During the meeting, Thornton said that visiting Pakistan was always a pleasure. According to an official statement, the meeting reflected the company's continued engagement with Pakistan.
Ali Pervaiz Malik also met Andrew Neilson, chief executive of UK-based mining and engineering company Weir. Neilson said Weir was keen to expand its involvement in Reko Diq as well as other mineral projects in Pakistan.
The petroleum minister also held a meeting with Ibrahim Al-Jazzar, Head of Metals and Minerals for the Middle East and North Africa at global commodities company Trafigura.
Trafigura expressed keen interest in Pakistan's zinc and barite projects. The company is also exploring investment opportunities in the LPG, bonded storage and refinery sectors in Pakistan.
The federal minister also met Mustafa Aksu, chief executive of Turkish company Calik Holding, while a delegation from Ivanhoe Mines, led by Robert Friedland, also held a meeting with him.
Ali Pervaiz Malik said the Pakistan Minerals Investment Forum was an important platform for connecting international investors with investment opportunities in the country's mineral sector.
He said interest shown by global companies reflected the growing potential for investment in Pakistan's mineral resources.
