Pakistan is preparing to showcase its vast mineral wealth to international investors as the Pakistan Minerals Investment Forum 2026 (PMIF26) opens in Islamabad on November 12-13, bringing together global mining executives, policymakers, financial institutions and technical experts to explore opportunities in the country's largely untapped minerals sector.
According to the Institute of Cost and Management Accountants of Pakistan (ICMA), the country possesses 92 known minerals, of which 52 are commercially exploited. Despite estimated mineral reserves worth around $8 trillion, the mining sector contributes less than 3 per cent to Pakistan's gross domestic product (GDP), reflecting the considerable gap between its geological potential and economic performance.
Organised by the government and endorsed by the Special Investment Facilitation Council (SIFC), with Oil and Gas Development Company Limited (OGDC) as its founding partner, PMIF26 carries the theme, "Pakistan: The Next Critical Minerals Destination." The forum aims to attract international investment, strengthen partnerships and promote opportunities across the mineral value chain.
Building on the success of PMIF25, which attracted around 5,000 delegates from more than 50 countries and witnessed the signing of 16 memoranda of understanding (MoUs), this year's event will focus on exploration, project development, financing, technology and mineral processing. At the centre of Pakistan's mining ambitions is the Reko Diq copper and gold project in Balochistan's Chagai district, one of the world's largest undeveloped copper and gold deposits.
Jointly owned by Barrick Mining Corporation (50 per cent), the Government of Balochistan (25 per cent) and three federal state-owned enterprises (25 per cent collectively), the project represents a major opportunity to transform the country's mining industry. Barrick's updated feasibility study estimates capital investment of $8.83 billion and a mine life of 37 years, with first production targeted for the end of 2028.
Its first phase is designed to process 45 million tonnes of ore annually, producing approximately 240,000 tonnes of copper and 297,000 ounces of gold. A second phase, planned for 2034, would double processing capacity.
The project is expected to generate export earnings, government revenues and employment while creating opportunities for local engineering, transport and mining services. International financing commitments have further strengthened confidence in Reko Diq, including an Asian Development Bank package of $410 million, a reported $700 million concessional financing package involving the World Bank Group, and $1.25 billion approved by the US Export-Import Bank.
According to the US Embassy, American financing could unlock up to $2 billion in US mining equipment and services exports and support approximately 13,500 jobs. Beyond copper and gold, Pakistan is also seeking to develop its critical minerals industry through a proposed partnership between the Frontier Works Organisation (FWO) and US Strategic Metals for a polymetallic refinery.