In a strategic effort to attract foreign investment in mining following the out-of-court settlement of the Reko Diq project, Pakistan is partnering with Kuwait to establish a $1 billion mining fund.
A Pakistani state-owned company has been chosen to lead the collaboration with Kuwait for this fund. Initial discussions between the two countries have been positive, with a Kuwaiti company expressing interest in mining metals and minerals for renewable energy use.
A detailed plan, including timelines, is expected to be presented to a joint working group to advance the fund’s development.
Pakistan is also seeking investment from other Gulf countries, including the UAE and Saudi Arabia, for its mining sector.
Additionally, Pakistan’s government is in ongoing discussions with the UAE for similar collaborations in mining. A recent conference in Saudi Arabia also indicates potential investment interests in Pakistan’s mining sector.
Source: profit.pakistantoday.com.pk
