ISLAMABAD: Australia and Pakistan are significantly strengthening their collaboration in the minerals sector, with a primary focus on the multi-billion-dollar Reko Diq project, a site rich in vast copper and gold reserves. This renewed partnership aims to leverage Australia’s advanced mining expertise to unlock Pakistan’s considerable mineral potential.
The Special Investment Facilitation Council (SIFC) is playing a pivotal role in this enhanced cooperation by actively fostering a business-friendly environment and streamlining investment operations for Australian companies. This initiative is crucial for attracting the necessary foreign capital and technical know-how.
Both nations have formally agreed to enhance economic cooperation not only in minerals but also across energy and water resource management. Pakistan’s Energy Minister has particularly emphasized the importance of strengthening institutional linkages to fully benefit from Australia’s globally recognized mining capabilities and technological advancements.
As part of this collaborative effort, Australia has proposed a specialized mineral training program in conjunction with Pakistani institutions. This initiative aims to build local capacity, transfer modern mining techniques, and develop a skilled workforce within Pakistan’s burgeoning mineral industry.
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The Reko Diq project alone, which an updated feasibility study estimates could yield over $181 billion worth of copper and gold, is a cornerstone of this partnership. The SIFC’s ongoing support is seen as instrumental in paving the way for successful joint ventures and fostering sustainable development within Pakistan’s rich mineral landscape. This deepening alliance marks a significant step towards realizing the immense economic potential of Pakistan’s mineral wealth.