Pakistan has signed a $500 million memorandum of understanding (MoU) with US Strategic Metals (USSM), a Missouri-based company specializing in the production and recycling of critical minerals vital for advanced technologies and clean energy production.
The MoU was signed at the Prime Minister’s House, where a USSM-led delegation, accompanied by Acting US Deputy Chief of Mission Zach Harkenrider, formalized the partnership with Pakistan’s Frontier Works Organisation (FWO), according to a press release issued by the US Embassy on Sunday.
Speaking at the signing ceremony, US Chargé d’Affaires Natalie Baker described the agreement as a significant milestone in strengthening bilateral relations.
“This signing is yet another example of the strength of the US-Pakistan bilateral relationship that will benefit both countries,” Baker said.
The first phase of the agreement involves the export of readily available minerals from Pakistan, including antimony, copper, gold, tungsten, and rare earth elements (REEs), with investments estimated at around $500 million.
The USSM delegation also held high-level meetings with Prime Minister Shehbaz Sharif, Chief of Army Staff General Asim Munir, and the ministers for petroleum and commerce, where they were briefed on Pakistan’s vast mineral wealth, including copper, gold, and REEs.
In addition to the FWO-USSM deal, a second MoU was signed between Pakistan’s National Logistics Corporation (NLC) and Mota-Engil Group, a global engineering and construction leader. This partnership will focus on logistics services and infrastructure development to support Pakistan’s expanding mining operations.
The statement emphasized that the collaboration aims to create long-term, sustainable growth, generate local employment, and facilitate technology transfer while aligning with Pakistan’s vision to become a key player in the global critical minerals market.
US officials have recently highlighted Washington’s strategic interest in Pakistan’s mineral sector, viewing it as vital to American advanced manufacturing and energy security.
