By Arshad Ali
The global race to secure critical minerals has entered a new phase as the energy transition, technological advancement and rising demand for clean-energy technologies reshape the strategic importance of natural resources. Countries are competing to secure access to copper, lithium and rare earth elements that power electric vehicles, renewable energy systems and modern technologies.
Countries with mineral resources are attracting growing international attention. Pakistan is positioning itself as a rising player in the global critical minerals economy amid rising global demand. The country has extensive deposits of copper, gold, chromite, coal, gemstones, rare earths and other industrial minerals. The country’s mineral wealth is estimated at $8 trillion, spread across 600,000 square kilometres and comprising 92 identified minerals, 52 of which are commercially extracted.
The opportunity is significant because the global economy is becoming increasingly dependent on minerals. Pakistan’s challenge is now to turn its geological potential into commercially viable projects, investment, exports and value-added industries. The country has introduced the National Minerals Harmonisation Framework to standardise mining rules across provinces, simplify licensing, and attract global investment into the sector.
Alongside the policy framework, the government has established the Pakistan Minerals Investment Forum (PMIF) as its main platform for local and international investors. The annual event aims to present Pakistan’s mineral wealth and pursue exploration, processing and downstream partnerships.
Strategic Moment for Mineral-Rich Country
Pakistan has vast mineral resources; however, the mineral sector remains relatively small in the national economy. The US Department of Commerce estimates that mining accounts for about 3.2 percent of GDP, underscoring the gap between Pakistan’s geological potential and its current economic contribution.
The country also holds an important geological position. Its territory includes part of the Tethyan Metallogenic Belt. The Tethyan Belt is a massive, mineral-rich corridor stretching thousands of kilometres from southeastern Europe through Turkiye, the Middle East, and the Himalayas into Pakistan. The belt is associated with significant copper and gold deposits. This geological setting is one of the reasons Pakistan offers opportunities for large-scale mining and exploration.
The scale of the opportunity is becoming more relevant as countries seek to diversify mineral supply chains. The International Energy Agency says demand for key energy minerals continued to grow strongly in 2026, driven by electric vehicles, batteries, renewable energy, electricity grids and other clean-energy technologies. It also notes that supply and refining remain highly concentrated in a limited number of countries.
For Pakistan, this creates an opportunity to attract investment into new sources of copper, lithium and other critical minerals while developing domestic capabilities in exploration, processing and related services.
Copper and The Energy Transition
Copper is at the centre of this transformation. It is essential for electricity networks, renewable-energy systems, electric vehicles, motors and a wide range of digital infrastructure. The IEA identifies copper as a cornerstone of electricity-related technologies. Its 2025 outlook projected clean-technology demand for copper to rise substantially through 2040.
The Reko Diq copper-gold project in Balochistan’s Chagai district is one of the world’s largest undeveloped deposits. Barrick Mining Corporation, a leading global mining, exploration and development company, holds a 50 percent stake, while the Government of Balochistan owns 25 percent and three Pakistani state-owned enterprises hold the remaining 25 percent.
In February 2025, Barrick announced the completion of the updated feasibility study for the Reko Diq project. The updated feasibility study estimates a 37-year mine life, with total capital investment of $8.83 billion. First production from the project is expected by the end of 2028.
According to the feasibility study, Reko Diq has probable mineral reserves of around 3 billion tonnes, containing an estimated 15 million tonnes of copper and 26 million ounces of gold. Barrick estimates the project could generate $90 billion in operating cash flow and $70 billion in free cash flow over its mine life.
Lithium Adds a New Dimension
Lithium is another mineral that has moved to the centre of the global energy transition. It is a key component of rechargeable batteries used in electric vehicles, grid storage systems, and portable consumer electronics like smartphones and laptops. The IEA, in its 2025 outlook, projected total lithium demand to more than quadruple between 2024 and 2040.
Pakistan has now entered this conversation with a significant new development. In July 2026, Oil and Gas Development Company Limited (OGDC) found lithium in formation water from a high-temperature geothermal well in Sindh. The company said the concentrations were comparable to those found in some high-grade lithium-bearing geothermal brines internationally.
OGDC has said the finding is a first for Pakistan and is undertaking further technical work to determine the regional extent, continuity and commercial viability of the lithium-bearing resource. This is particularly important because the discovery is associated with geothermal formation water rather than conventional hard-rock mining.
National Framework to Improve Investor Confidence
The government’s policy response is equally important. The National Minerals Harmonisation Framework 2025 is designed to address one of the longstanding challenges facing Pakistan’s mining sector.
The framework is part of a broader reform programme that includes the digitalisation of geological data and the revitalisation of the Geological Survey of Pakistan. The objective is to improve transparency, access to geological information and the overall investment environment.
The policy framework matters because international mining investment requires more than mineral deposits. Investors need predictable licensing, reliable geological data, clear regulations, infrastructure, security and mechanisms for resolving disputes.
Pakistan is also seeking to move beyond the export of unprocessed ore. The government is increasingly focused on value-added mineral products and developing domestic processing capacity. This shift will allow the country to capture a greater share of the value generated by its mineral resources through processing, refining, manufacturing, technical services and local supply chains.
Why PMIF26 Matters to Global Investors
The Pakistan Minerals Investment Forum is the premier global platform designed to showcase Pakistan’s untapped mineral wealth and attract international investment. The forum is designed as an investment platform linking Pakistan’s mineral opportunities with international capital, technology and expertise.
This year’s edition, PMIF26, will be held on November 12–13, 2026, at the Jinnah Convention Centre in Islamabad. Its agenda covers exploration, project development, processing, sustainable mining, technology and investment.
The forum’s investment focus is particularly relevant for investors seeking new mineral supply sources. PMIF26 will provide access to government officials, regulators, investors, mining companies, technology providers and other stakeholders. Opportunities on offer range from exploration-stage projects to production-ready assets, spanning copper, lithium, rare earths, industrial minerals and gemstones.
PMIF25 demonstrated the international appetite for the platform. The inaugural edition attracted more than 5,000 delegates from over 50 countries, while 16 MoUs and agreements were signed and 18 panel discussions were held.
For Pakistan, the opportunity is to move from being a country with significant mineral potential to a reliable participant in global mineral supply chains. That will require exploration, capital, infrastructure, technology, environmental safeguards, community participation and consistent regulation. If these pieces come together, Pakistan can turn its mineral endowment into a new source of exports, investment, industrial development and economic diversification.
The writer is a seasoned journalist with a strong background on economic affairs, the energy sector, Pakistan’s mineral potential and emerging investment opportunities, with a focus on developments shaping the country’s economic growth and future prospects.
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