ISLAMABAD: US Republican Congressman Jack Bergman has called for cooperation with Islamabad in the critical minerals and industrial development sectors, aiming to build a strategic partnership that “provides value not only to Pakistan but to the entire world.”
The United States has identified a list of “critical minerals” like aluminum, lithium, cobalt, and rare earth elements that it has deemed essential for its economy, national security, and technological advancements. Pakistan is endowed with various mineral resources, including salt, coal, copper, gold, chromite, bauxite, and gemstones. It is also rich in lithium used to make batteries, as well as other minerals. But despite rich natural reserves estimated to be worth $6 trillion, Pakistan’s mineral sector contributes only 3.2% to GDP and 0.1% to global exports.
The country is now aiming to tap into this underutilized potential and last week organized a minerals summit attended by top government officials and heads of companies from various countries including the US, UK, Europe, China and the Middle East.
“The value of the relationship going forward between Pakistan and the United States cannot be overestimated or how positive an impact it’s going to make, not only just here in Pakistan, in the United States, but in developing areas around the world,” said Bergman, who is part of a three-member US congressional delegation visiting Pakistan this week.
“The importance of what we’re doing here in these specific areas is to bring partnerships together in very specific areas, critical minerals being only one of many but it sets the stage for the next steps in the development of good industries that provide value not only to Pakistan but to the entire world.”
“We cannot overestimate the value of the kinds of industries that we are involved with now in developing capabilities, whether it’s industrial techniques, mining techniques, new products, all of those elements that go into the future of our productive world,” Bergman added.
Last week, senior official Eric Meyer from the US Department of State’s Bureau of South and Central Asian Affairs attended the Pakistan Minerals Summit and expressed interest in enhancing cooperation with Pakistan in the minerals sector, citing President Donald Trump’s vision of securing rare materials as a “strategic priority” that could benefit both countries.
Pakistan is home to one of the world’s largest porphyry copper-gold mineral zones, while the Reko Diq mine in southwestern Balochistan province has an estimated 5.9 billion tons of ore.
Barrick Gold, which owns a 50% stake in the Reko Diq mines, considers them one of the world’s largest underdeveloped copper-gold areas, and their development is expected to have a significant impact on Pakistan’s struggling economy.
