Federal Minister for Petroleum Ali Pervaiz Malik has stated that the Reko Diq project is poised to become a benchmark for Pakistan’s mineral sector, while also opening new paths for cooperation between Pakistan and Australia in mining and gemstones.
Discussions with Australian High Commissioner
During a meeting with Timothy Kane, the newly appointed Australian High Commissioner to Pakistan, both officials explored opportunities to strengthen bilateral ties in the mining and gemstones industries. Malik welcomed the increasing interest of Australian companies in Pakistan’s mineral resources, particularly those located along the Tethyan Belt.
Proposed Intergovernmental Agreement
To facilitate structured and long-term collaboration, Malik suggested the possibility of establishing an intergovernmental agreement (IGA) between the two countries focused on mining sector cooperation.
Focus on Gemstones Sector
The minister also highlighted government initiatives aimed at formalizing the gemstones industry, emphasizing its potential to enhance value addition, increase exports, and generate employment.
Australian Engagement and Investment
High Commissioner Kane noted that Australian firms are already actively participating in the Reko Diq project, with additional companies showing strong interest. He encouraged Australian involvement in the upcoming Pakistan Minerals Investment Forum (PMIF), expressing optimism for a significant Australian presence.
Global Demand and Sector Opportunities
Addressing the rising global demand for copper and gold driven by the energy transition, Kane remarked that Pakistan’s mining sector is attracting considerable international attention. He also expressed hope for collaboration in the gemstones sector through knowledge sharing, training, and technical assistance.
Mutual Commitment to Cooperation
Minister Malik appreciated Australia’s support for formalizing Pakistan’s mineral sector and described the partnership as timely and reassuring. He also referred to his recent visit to Australia for the International Mining and Resources Conference (IMARC), where he engaged with leading and junior Australian mining companies regarding investment prospects in Pakistan.
Both sides reaffirmed their commitment to enhancing Pakistan-Australia cooperation in mining and gemstones for mutual economic benefit.
