U.S. Firm Makes $500-M Investment in Pakistan’s Critical Minerals

A U.S. metals company has signed a $500 million investment deal with Pakistan, the Associated Press (AP) reported.

The deal follows a trade agreement between Washington and Islamabad last month that Pakistan hoped would attract American investment in its mineral and oil reserves. (Photo: Raees Faheem Associates Facebook) 

Pakistan’s Frontier Works Organization—the country’s largest miner of critical minerals—signed a memorandum of understanding (MOU) with Missouri-based U.S. Strategic Metals for a collaboration that includes establishing a polymetallic refinery in Pakistan.

The deal follows a trade agreement between Washington and Islamabad last month that Pakistan hoped would attract American investment in its mineral and oil reserves.

U.S. Strategic Metals focuses on producing and recycling critical minerals, which the U.S. Department of Energy has defined as essential for technologies related to advanced manufacturing and energy production.

A second agreement was signed between Pakistan’s National Logistics Corp. and Mota-Engil Group, a Portuguese engineering and construction company.