Govt pursues Russian investment in mining
Pakistan has already chalked out a $1.9 billion funding plan to execute the Reko Diq copper and gold mining project. Total project funding has been estimated at $4.297 billion. Photo: File
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Federal Minister for Energy Ali Pervaiz Malik is leading Pakistan's delegation to the St Petersburg International Economic Forum (SPIEF) 2025 from June 1821, 2025.
According to an official statement issued Thursday, Malik held key meetings on the sidelines of the forum, including one with his Russian counterpart, Sergei Tsivilev, who also chairs the Pakistan-Russia Inter-Governmental Commission (IGC). Both sides discussed avenues for cooperation in energy, connectivity, trade, investment, banking, insurance, mining, and people-to-people exchanges.
Russia expressed strong interest in expanding bilateral cooperation and welcomed the upcoming 10th session of the IGC, scheduled for the second quarter of 2025 in Islamabad.
Malik also met with Alexey Shemetov, First Deputy Director of Rosatom Minerals, and invited the corporation to invest in Pakistan's mining sector, particularly in technology transfer and sharing expertise on enhancing safety and efficiency. Shemetov agreed to explore investment opportunities and submit proposals for collaboration in Pakistan's mining sector.
In a high-level panel discussion titled 'The Responsibility of World Leaders for Mineral Reserves and Production for the Sustainable Development of Global Economy,' Malik presented Pakistan's recent reforms in the mining sector at the SPIEF 2025. He highlighted the newly launched Mining Framework Policy and the completion of the Reko Diq Mine feasibility study as major steps toward creating an investor-friendly environment for sustainable mineral development.
He underscored the successful Pakistan Minerals Investment Forum, held in Islamabad in April 2025, as a turning point for the sector.
"Under the leadership of Prime Minister Muhammad Shehbaz Sharif, Pakistan has undertaken comprehensive reforms to become a top destination for mining investment," said Malik. "Our new policy offers unparalleled opportunities in copper, gold, and critical minerals, while ensuring environmental stewardship and community benefits."
He added that Pakistan has harmonised its legal framework with international standards through consultations with global legal firms. These reforms, he said, would unlock vast mineral resources through responsible development. Pakistan's mineral wealth, he added, is not limited to copper or gold but there are vast reserves of lithium and other rare earth elements.
The minister noted that these initiatives were successfully unveiled at the Pakistan Minerals Investment Forum 2025, which saw strong participation from global mining leaders. He extended a formal invitation to international investors to participate in the next edition of Pakistan's Mineral Investment Forum.
Multiple international mining companies expressed keen interest in participating in Pakistan's minerals forum. The positive engagement reflects growing confidence in Pakistan's reformed mining landscape.
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