ISLAMABAD: Pakistan and the United States on Monday inked two landmark Memoranda of Understanding (MoUs) to boost cooperation in the development and processing of critical minerals, including rare earth elements (REEs), and in logistics services.
The agreements were signed at the Prime Minister’s House during the visit of a high-level US delegation representing United States Strategic Metals (USSM) and Mota-Engil Group. The ceremony was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Chief of Army Staff Field Marshal Asim Munir, federal ministers, and senior officials.
Under the first MoU, Pakistan’s Frontier Works Organization (FWO) and USSM agreed to collaborate on exploration, processing, and export of critical minerals such as antimony, copper, gold, tungsten, and rare earth elements. The partnership will immediately commence with mineral exports and aims to establish a USSM proprietary poly-metallic refinery in Pakistan, with an initial investment of $500 million.
The second MoU was signed between National Logistics Corporation (NLC) and Mota-Engil Group, a global engineering and construction leader. The agreement seeks to enhance Pakistan’s logistics infrastructure, align with government priorities, and create opportunities for job creation, technology transfer, and sustainable development.
Chargé d’Affaires at the US Embassy, Natalie Baker, termed the agreements a milestone in the US-Pakistan partnership, emphasizing their importance for security, prosperity, and technological advancement.
Both sides will now form dedicated teams to identify priority minerals, explore innovative financing solutions, including tokenization, and scale up investment in a sustainable and environmentally responsible manner.
