A prominent US-based mining company, Nova Minerals Ltd., has signaled keen interest in investing in Pakistan’s vast and largely unexploited reserves of gold and rare earth minerals, a move that could unlock significant foreign direct investment and technological expertise for the country’s strategic mining sector.
The development emerged from a high-level meeting on Thursday between a delegation from the ASX and NASDAQ-listed firm and Federal Minister for Board of Investment (BOI), Qaiser Ahmed Sheikh. The minister highlighted the “promising opportunities” available within Pakistan’s minerals and mining landscape.
Minister Sheikh emphasized the government’s strategic shift away from simply exporting raw materials. He articulated a national vision focused on fostering local processing and industrial upscaling to ensure that value addition benefits the domestic economy.
‘Foreign investment in this industry will not only help unlock Pakistan’s natural resources but also strengthen bilateral economic ties,’ the minister remarked, pointing to potential benefits such as technology transfer and skills development.
In response, the Nova Minerals delegation lauded recent policy reforms and government facilitation measures, describing Pakistan as an attractive destination for long-term ventures. The representatives expressed a desire for technical collaboration, knowledge exchange, and to conduct feasibility studies with local partners to identify specific projects.
Welcoming the firm’s interest, Sheikh stressed that the government supports responsible, technology-driven initiatives that prioritize sustainability and local value addition. He conveyed that Prime Minister Muhammad Shehbaz Sharif is a strong proponent of foreign partnerships as a key driver for economic modernization.
The minister concluded by reaffirming the BOI’s commitment to providing “maximum facilitation” to all overseas investors through a transparent and efficient framework, aiming to translate the nation’s natural wealth into sustainable economic prosperity.