PMIF: Ivanhoe Atlantic, Mari Minerals sign Chagai copper-gold exploration deal

ISLAMABAD: Federal Minister for Petroleum, Ali Pervaiz Malik on Thursday held a series of bilateral meetings with leading international mining and investment companies on the sidelines of the Pakistan Minerals Investment Forum (PMIF), highlighting Pakistan’s commitment to attracting foreign investment and expanding international partnerships in the minerals sector.

During the engagements, the Federal Minister held separate meetings with John Thornton, Chairman of Barrick Mining Corporation, accompanied by the company’s senior leadership; Andrew Neilson, Chief Executive of Scottish mining and engineering company Weir; Ibrahim El Gazzar, Head of Metals and Minerals (MENA) at Singapore-headquartered Trafigura, along with his delegation; and Mustafa Aksoy, Chief Executive Officer of Türkiye’s Çalik Holding. He also met with a delegation led by Robert Friedland of Ivanhoe Atlantic.

During the meeting, Andrew Neilson expressed Weir’s interest in expanding its engagement in Pakistan’s mining sector, stating that the company was looking to participate in additional projects beyond its existing involvement in RekoDiq.

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Ibrahim El Gazzar conveyed Trafigura’s keen interest in Pakistan’s Zinc-Barite project. He also expressed the company’s interest in exploring opportunities in Pakistan’s LPG, bonded storage and refinery sectors.

John Thornton remarked that it was always a pleasure to visit Pakistan, reflecting the company’s continued engagement with the country.

The minister also witnessed the signing ceremony of an agreement between mining giant Ivanhoe Atlantic and Mari Minerals for the exploration of copper and gold deposits in Chagai, Balochistan. Under the agreement, the two companies intend to undertake exploration activities to assess the region’s mineral potential and identify opportunities for the development of its copper-gold resources.

The minister welcomed the growing interest of international companies in Pakistan’s minerals sector and emphasized that PMIF provides an important platform to connect global investors with investment opportunities, facilitate partnerships, and unlock the country’s vast mineral potential.

Copyright Business Recorder, 2026