With the holding of the two-day Pakistan Minerals Investment Forum 2025 (PMIF25) last week in Islamabad, Pakistan has finally moved towards unlocking its immense mineral wealth through sustainable, and inclusive development. Organised by the Oil and Gas Development Company  (OGDCL), with support from the Special Investment Facilitation Council (SIFC) and the government of Pakistan, the forum brought together over 300 delegates from around the world, including government leaders, mining experts, investors, and academics.

The forum was aimed at boosting local and foreign investment in Pakistan’s mineral sector, which holds immense untapped potential and forging strategic, long-term partnerships by showcasing Pakistan’s mineral wealth. Participants from China, the United States, Saudi Arabia, Russia, Turkey, Kenya, Finland, and other countries joined local investors and stakeholders to explore investment opportunities and sign agreements and memorandums of understanding across various segments of the mining value chain. Delegates from prominent organisations such as the US State Department, US Exim Bank, the Asian Development Bank (ADB), and executives from mining companies across Denmark, Kenya, Finland, and the UK also attended the moot.

The country has suffered long from the absence of a comprehensive and clear-cut policy framework for mineral development and that is the reason why despite possessing immense mineral wealth no benefits have occurred to the nation. Despite Pakistan’s resource potential, mining currently contributes only 3% to GDP. In this background, the conference was a welcome initiative for promoting policy dialogue, investment facilitation, and knowledge sharing—setting the stage for Pakistan to emerge as a competitive player in the global minerals market.

Addressing the conference, Prime Minister Shehbaz Sharif called on both local and international investors to seize the opportunity to tap into Pakistan’s abundant mineral resources, underscoring that this could significantly reduce the country’s reliance on global financial institutions such as the International Monetary Fund (IMF). He said: “This is not a secret. These deposits are valued in the trillions of dollars and are well-known in the public domain. If we can tap into these resources, Pakistan would be able to move away from reliance on institutions like the IMF and eliminate the burden of loans and high borrowing costs.” He also stressed the need for adding value to the country’s mineral output by processing and exporting finished and semi-finished products, rather than simply exporting raw materials.

He proposed that any investment partnerships include a gradual transfer of technology to Pakistan, ensuring long-term benefits and encouraging businessmen to explore joint ventures, particularly in establishing vocational training centres across the country.

An important part of the conference was the launching of the National Minerals Harmonisation Framework 2025 which is a comprehensive reform package designed to streamline investment policies and create a more investor-friendly regulatory environment. On the sidelines of the PMIF25, a Memorandum of Understanding (MoU) was signed between Pakistan and Turkey for joint offshore exploration. The MoU was inked between the Turkish Petroleum Corporation (TPAO) and Pakistan’s state-owned enterprises—OGDCL, Mari Energies Ltd, and Pakistan Petroleum Limited (PPL)—during a meeting between Federal Minister Ali Pervaiz Malik and Turkey’s Minister for Energy and Natural Resources. Federal Minister for Energy Ali Pervaiz Malik and Federal Minister for Commerce Jam Kamal Khan also held a meeting with the high-level delegation of Saudi Arabia led by Abdulrahman Al-Belushi, Deputy Minister for Mining. During the meeting, the two sides discussed strengthening bilateral cooperation in the energy and mineral sectors. Both sides explored avenues to deepen collaboration in Pakistan’s oil, gas, and mining industries. The Saudi delegation expressed a strong interest in exploring investment opportunities in Pakistan’s energy and mineral sectors.

Reko Diq is the crown jewel of Pakistan’s mineral sector. During the event, Barrick Gold CEO Mark Bristow highlighted the significance of the Reko Diq copper and gold project and said that it was of pivotal milestone for Pakistan. He pointed out that the project would not only economically benefit Pakistan but also transform the economy of Balochistan. Bristow said that the feasibility study has been completed, with production targeted to begin in 2028. The mine is expected to produce 240,000 tonnes of copper and 300,000 ounces of gold annually. During peak construction, the project is set to employ over 7,500 people and will provide 4,000 long-term direct jobs. He expressed confidence that Pakistan is poised to join the ranks of top global mining jurisdictions, competing with countries like Chile, Peru, the DRC, and Zambia.

Needless to say, developing the country’s mineral sector calls for more than just rhetoric or high level conferences. The importance of developing a skilled workforce to support the sector’s expansion cannot be overemphasised. To this end, we need curriculum reforms, regulation of training funds, and the establishment of mining-focused campuses, particularly in Balochistan and KP. Side by side, we should understand the importance of stable and investor-friendly policies, risk mitigation mechanisms, and global benchmarking to attract capital into Pakistan’s mineral value chain. Let us hope the latest mineral conference will not go the way of similar meetings in the past and will lead to concrete results in the near future.