Pakistan Signs 13 Mineral Deals as Sharif Seeks Local Copper and Gold Processing

Pakistan wants more than raw mineral exports

Pakistan has signed 13 mineral agreements with foreign companies and geological institutions as Prime Minister Shehbaz Sharif urges investors to build processing and manufacturing operations inside the country. The push combines exploration for copper and gold in Balochistan with laboratories, geological surveys and possible processing investments in Karachi and Gwadar.

The Pakistan Minerals Investment Forum 2026 brought roughly 10,000 participants to Islamabad, including representatives from more than 60 countries. Pakistan wants to increase annual mineral exports from about $3 billion to $8 billion, while Sharif said production at the Reko Diq copper and gold project was expected to begin in 2028.

The export target would mean an increase of $5 billion a year, or about 167% above the current figure. Local processing is central to the government's pitch: instead of shipping mineral material abroad for other countries to refine and manufacture, Pakistan wants more of that work, investment and employment to stay at home.

The forum was held on November 12 and 13, with announcements published on November 14. Some descriptions place the closing and signing events on November 14 rather than November 13. The agreements involve partners from Türkiye, the United Kingdom, Canada, Germany, Japan and Australia, and range from preliminary cooperation frameworks to joint ventures.

Sharif and Chief of Army Staff Field Marshal Syed Asim Munir addressed the concluding session. Their message linked foreign investment with a broader industrial ambition: developing the chain of activities from finding minerals underground to processing them into more valuable products.

Chagai and Pishin anchor the exploration deals

Balochistan's Chagai district accounts for several of the partnerships. Mari Minerals reached agreements with Türkiye's Lidya Mining and MTA International Company (MTAIC) covering exploration and development, including copper, gold and associated mineral deposits.

Mari Minerals also signed a strategic framework with Ivanhoe Atlantic. Mari Minerals Managing Director and Chief Executive Faheem Haider and Ivanhoe Atlantic Chief Executive Bradley Doig exchanged the documents. Separately, the Frontier Works Organisation signed a memorandum of understanding with Ivanhoe Mines for exploration and mining projects in Chagai.

Ivanhoe Atlantic and Ivanhoe Mines are separate named partners in the announced agreements. The Frontier Works Organisation agreement was exchanged by its chief executive, Engineer Abdul Sami, and Ivanhoe Mines founder and co-chairman Robert Friedland.

Pishin district is the focus of a partnership between the Pakistan Mineral Development Corporation (PMDC) and MTAIC. Their exploration plans cover antimony, copper, gold, silver, molybdenum and other critical minerals. Critical minerals are materials considered important to industry or national needs whose supply governments want to secure.

The agreements put substantial attention on finding and assessing deposits. Before a mine can be designed, companies need to establish where minerals are located, how much rock contains them and whether extraction can pay for its costs.

New drilling results add detail to the investment pitch

National Resources Limited Chairman Muhammad Ali Tabba told the forum that the company had identified copper and gold mineralisation across at least eight porphyry discoveries in Chagai after nearly 25,000 metres of drilling. He also reaffirmed a previously announced investment commitment of $100 million to Pakistan's mineral sector.

A porphyry deposit is a type of mineral deposit in which metals can be spread through a large volume of rock. Drilling brings samples to the surface so geologists can measure their metal content and map the deposit below ground.

The Institute of Cost and Management Accountants estimates Pakistan's mineral reserves at about $8 trillion across 600,000 square kilometres. Mining currently contributes less than 3% of gross domestic product, the measure of the goods and services produced by the economy. Turning underground resources into annual income requires exploration, construction, extraction, processing and sales.

Barrick considers processing in Karachi and Gwadar

Barrick Mining Corporation expressed interest in investing in mineral processing industries in Karachi and Gwadar during a meeting between Sharif and a delegation led by Barrick Chairman John Thornton. Such investments would extend the company's activities in Pakistan beyond its involvement in Reko Diq.

Processing separates or concentrates valuable minerals from the surrounding material. Depending on the operation, further refining can produce metal suitable for manufacturers. Keeping more of those activities in Pakistan is the practical meaning of the government's call for local value addition.

Sharif described Reko Diq as a landmark investment whose successful development could provide a benchmark for future mining projects. He said Pakistan wanted to draw on Barrick's international experience to develop resources beyond that project.

The meeting covered the policies, regulation and infrastructure needed for large mining investments. Sharif pointed to infrastructure development, modern technology and incentives for international investors. Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb and Petroleum Minister Ali Pervaiz Malik attended.

Barrick's interest in Karachi and Gwadar remains at the discussion stage. No investment amount, construction timetable or processing capacity was announced for either location.

A domestic laboratory could keep more technical work in Pakistan

Mari Minerals and MSALABS Limited, a subsidiary of Capital Limited, agreed to establish a commercial mineral assay laboratory through Mari MSA Labs (Private) Limited. An assay measures the amount of a metal or another substance in a sample of rock or mineral material.

The planned facility is intended to strengthen testing services within Pakistan and reduce reliance on laboratories overseas. Reliable sample results help companies decide where to drill next, assess deposits and plan mining operations. The laboratory would therefore support the exploration work being pursued under several of the forum agreements.

PMDC and the United Kingdom's International Geosciences Services also announced a joint venture for gemstone resource assessment under the JORC reporting standard and the development of a model mine that could be replicated. JORC sets requirements for publicly reporting exploration results, mineral resources and reserves, helping investors understand the evidence behind mineral estimates.

Surveys and geological data support the search underground

Globacore Minerals signed an agreement with Shift Geophysics and Southern Geosciences for airborne geophysical surveys. Aircraft carrying instruments can measure physical properties of the ground, helping geologists identify areas worth investigating in more detail.

Globacore also partnered with Fleet Space ANT to deploy ambient noise tomography. The technique uses naturally occurring ground vibrations to help build a picture of structures beneath the surface. Such surveys guide exploration teams toward locations where drilling may provide useful answers.

Information and Broadcasting Minister Attaullah Tarar said the National Minerals Data Centre and the Geological Survey of Pakistan Geoportal were inaugurated during the forum. Their launch adds a data component to an investment drive that also includes laboratories and field surveys.

The Geological Survey of Pakistan formalised cooperation with institutions in Japan, Türkiye, Germany and the United Kingdom. Japan's Statement of Intent concerns technical support for the Pakistani survey. A separate agreement brings together the Pakistani survey, Türkiye's General Directorate of Mineral Research and Exploration and MTAIC.

Germany's Federal Institute for Geosciences and Natural Resources and the British Geological Survey also entered cooperation agreements. British High Commissioner Jane Marriott marked the completion of a capacity building programme for the Geological Survey of Pakistan under the United Kingdom's REMIT initiative.

International participation brings finance and supply chains into focus

United States Acting Deputy Assistant Secretary of State for South and Central Asian Affairs Konstantin Dubrovsky and Chargé d'Affaires Natalie Baker attended the forum to highlight cooperation on critical minerals. The United States described its approach as combining government financing with private sector expertise to support mining and secure supply chains.

A supply chain is the sequence that moves a material from a mine through processing and transport to the factory that uses it. Copper's role in electrical equipment, electric vehicles and renewable energy infrastructure helps explain why mineral investment attracts attention beyond the mining industry.

Ivanhoe Mines, equipment company Weir and commodities trader Trafigura participated in discussions covering exploration, equipment, mineral trading and related industrial activities. Their participation reflects the range of businesses needed to bring minerals to market.

Dar, speaking at the closing gala dinner, described increased international participation as a sign of growing confidence in Pakistan's mineral sector and investment potential. He expressed hope that contacts made at the forum would develop into meaningful partnerships and cooperation benefiting both sides.

Jobs and protection are central to the promise for Balochistan

Sharif said mineral development must deliver tangible benefits to communities, particularly in Balochistan. During the Barrick meeting, he identified employment, skills training for young people and better living conditions as government priorities.

Balochistan Chief Minister Sarfraz Bugti told investors about security arrangements, including new security divisions for mineral corridors. Munir also gave an assurance covering workers, investments and industrial operations.

Field Marshal Syed Asim Munir, addressing the forum as Pakistan's army chief, said:

"Mines and miners, investments, industries, projects and all associated people would be provided adequate protection," he said.

Provincial leaders presented mineral opportunities beyond the main Balochistan projects. Punjab Chief Minister Maryam Nawaz highlighted placer gold deposits and iron ore reserves. Placer gold is gold that has accumulated in sediment after being carried from its original rock, often by water.

Public calls for mineral development also pointed to copper and gold resources in Balochistan and Khyber Pakhtunkhwa, with employment for local communities among the expected benefits. For residents, the concrete outcomes will be the jobs created, the skills taught and the improvements delivered alongside mining activity.

From signed agreements to production

Pakistan's next task is to move the forum's partnerships through exploration, technical assessment and investment decisions. The government's stated priorities include better governance, stronger security and infrastructure capable of supporting mining and industrial operations.

The principal dates and milestones are:

• November 12 and 13, 2026: the Islamabad forum brought together government officials, mining executives, investors and geological institutions.
• November 14, 2026: announcements detailed 13 agreements, joint ventures and memoranda, alongside the new minerals data centre and Geoportal.
• 2028: Sharif said production at Reko Diq was expected to begin.

The $8 billion annual export goal depends on more than discovering deposits. Pakistan is pursuing the testing capacity, geological information, equipment, financing and processing operations needed to turn exploration results into products buyers can purchase. The laboratory and survey agreements address earlier stages of that process, while Barrick's processing discussions concern a later industrial stage.

Reko Diq provides the most specific production milestone highlighted at the forum. The wider programme spreads activity across several companies, districts and technical institutions, giving Pakistan multiple projects to develop as it seeks a larger mining industry and more work within its borders.

Key Points

• Pakistan announced 13 mineral agreements involving international companies and geological institutions.
• Sharif urged investors to process minerals and establish manufacturing operations inside Pakistan.
• Chagai and Pishin feature prominently in exploration plans covering copper, gold and other minerals.
• National Resources Limited reported at least eight porphyry discoveries after nearly 25,000 metres of drilling.
• Barrick expressed interest in processing investments in Karachi and Gwadar.
• Pakistan aims to raise annual mineral exports from about $3 billion to $8 billion.
• Reko Diq production is expected to begin in 2028, according to Sharif.