Pakistan has formally proposed an Intergovernmental Agreement (IGA) with Australia to establish a structured, long-term partnership in the mining sector, as Canberra”s new envoy noted burgeoning interest from Australian firms in projects like Reko Diq, fuelled by the global demand for energy transition minerals.
The proposal was tabled during a meeting on Tuesday between Federal Minister for Petroleum, Mr. Ali Pervaiz Malik, and the newly appointed Australian High Commissioner to Pakistan, H.E. Mr. Timothy Kane, held to discuss avenues for enhanced bilateral cooperation, according to an official report today.
Minister Malik welcomed the strong interest from Australian companies and highlighted the nation’s immense untapped mineral potential, particularly within the resource-rich Tethyan Belt. The proposed IGA aims to provide a formal framework for future joint ventures.
The Australian High Commissioner acknowledged the active involvement of his country”s companies in the significant Reko Diq project and confirmed that additional firms have expressed keen interest in participating.
Mr. Kane observed that the increasing global importance of copper and gold for the energy transition has placed Pakistan’s mining sector under an international spotlight, attracting considerable attention. He stated that Australian companies would be encouraged to participate in the upcoming Pakistan Minerals Investment Forum (PMIF), expressing hope for a strong Australian presence at the event.
Discussions also covered the formalisation of Pakistan”s gemstones sector, which the Federal Minister underscored for its potential in value addition, exports, and employment generation.
The High Commissioner expressed optimism for collaboration in the gemstones industry through knowledge exchange, training programmes, and technical assistance. The Federal Minister termed this willingness to support the sector’s development as both reassuring and timely.
The meeting followed the Minister”s recent visit to Australia for the International Mining and Resources Conference (IMARC), where he held talks with leading and junior Australian mining companies regarding investment opportunities in Pakistan.
Both dignitaries reaffirmed their commitment to strengthening cooperation in the mining and gemstones industries for mutual benefit.