US metals company signs MoU with Pakistan on critical minerals
PM, US delegation discuss mining opportunities in Pakistan
Monitoring Desk
ISLAMABAD: Pakistan has signed a memorandum of understanding (MoU) with an American metals company, the US Strategic Metals (USSM), it emerged on Monday.
The USSM, based in the state of Missouri, is focused on producing and recycling critical minerals, which the United States Department of Energy has defined as essential in a variety of technologies related to advanced manufacturing and energy production.
The USSM is a company that specialises in extracting critical metals from old lithium-ion batteries and mining cobalt, nickel and copper, according to its website. According to the American embassy, the US Department of Energy has defined critical minerals as essential in a variety of technologies related to advanced manufacturing and energy production.
A press release from the US Embassy, published on Sunday, stated that Acting Deputy Chief of Mission Zach Harkenrider accompanied a USSM-led delegation to sign an MoU with the Frontier Works Organisation (FWO) at the Prime Minister House.
Speaking about the MoU signing, US Chargé d’Affaires Natalie Baker said, “This signing is yet another example of the strength of the US-Pakistan bilateral relationship that will benefit both countries.”
Speaking about the importance of such bilateral agreements, Baker said that US President Donald Trump’s administration has made forging such deals a key priority, based on the importance of critical mineral resources to American security and prosperity.
“We look forward to seeing future agreements between US companies and their counterparts in the critical minerals and mining sector in Pakistan.”
Pakistan’s relations with the US have been improving, with both nations recently signing trade deals. Islamabad successfully negotiated a reduction in reciprocal tariffs — from 29 per cent to 19pc — after the two nations concluded a trade deal in July.
This was after Trump announced that the US had concluded a deal with Islamabad that would allow the two allies to work together on developing Pakistan’s vast oil reserves.
Meanwhile, a high level US delegation including USSM (United States Strategic Metals) and Mota-Engil, renowned global companies in the mining and infrastructure sector met with Prime Minister Muhammad Shehbaz Sharif at the Prime Minister’s House on Monday and discussed prospects for mining in Pakistan.
Deputy Prime Minister and Foreign Minister Ishaq Dar, Chief of the Army Staff Field Marshal Syed Asim Munir and Federal Ministers were also present in the meeting.
The delegation is visiting Pakistan to explore opportunities for expansion of mining operations in Pakistan and assess potential for value addition in mineral resources and development of supporting infrastructure.
Delegation held high-level meetings with Prime Minister of Pakistan, Chief of Army Staff (COAS), Minister of Petroleum and Minister of Commerce and were briefed on Pakistan’s vast mineral reserves, including copper, gold, and rare earth elements.
The visiting companies expressed readiness to invest in establishing value-addition facilities within the country, enhancing mineral processing capacity, and developing large-scale infrastructure projects linked to the mining sector.
