Federal Minister for Petroleum, Mr. Ali Pervaiz Malik, held a meeting today with the new Australian High Commissioner to Pakistan, H.E. Mr. Timothy Kane, to discuss avenues for enhanced bilateral cooperation in the mining and gemstones sectors.

The Federal Minister welcomed the strong interest of Australian companies in Pakistan’s mining sector and highlighted the country’s immense untapped mineral potential, particularly in the Tethyan Belt. He proposed the possibility of an Intergovernmental Agreement (IGA) between Pakistan and Australia to promote structured and long term cooperation in the mining sector.

Minister Ali Pervaiz Malik also underscored the Government of Pakistan’s efforts to develop and formalize the gemstones sector, emphasizing its potential for value addition, exports, and employment generation.

The Australian High Commissioner noted that Australian companies are already actively involved in the Reko Diq project, and additional Australian firms have shown keen interest in joining the project. He further stated that Australian companies would be encouraged to participate in the Pakistan Minerals Investment Forum (PMIF), expressing hope for a strong Australian presence at the event.

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Highlighting the growing global importance of copper and gold for the energy transition, the High Commissioner observed that Pakistan’s mining sector has attracted significant international attention. He expressed optimism for collaboration in the gemstones sector through knowledge exchange, trainings and technical assistance.

The Federal Minister appreciated Australia’s willingness to support Pakistan in its journey toward formalizing the mineral sector, terming such cooperation reassuring and timely. He recalled his recent visit to Australia for the International Mining and Resources Conference (IMARC), during which fruitful discussions were held with leading and junior Australian mining companies on investment and cooperation opportunities in Pakistan’s minerals sector.

Both sides reaffirmed their commitment to strengthening Pakistan Australia cooperation in the mining and gemstones sectors for mutual benefit.