Pakistan, US Close to Trade Agreement on Balochistan Reko Diq Project and Mineral Resources

Shiite News: US adopts trade agreement path to access Pakistan’s natural resources, Reko Diq gold and copper mines are the focus of talks

The US is adopting a systematic trade strategy to ensure the supply of essential minerals for its industries, which includes first pressure and later negotiations. The same policy has been adopted by the US with Ukraine, Greenland and now Pakistan.

Pakistan on Friday expressed happiness over the development of economic relations with the US and announced that the two countries have entered the final stages of a comprehensive trade agreement.

Pakistani Deputy Prime Minister and Foreign Minister Ishaq Dar said in an interview with the Atlantic Council think tank in Washington that the talks would be completed in just a few days.

Ishaq Dar, in a meeting with his US counterpart Marco Rubio, stressed the need to increase bilateral trade and expand cooperation, especially in the minerals and natural resources sector.

According to him, Pakistan is inviting US investors to invest, especially in the mining and offshore gas sectors. He also said that the total value of Pakistan’s natural resources is between $6 and $8 trillion, which can form the basis of a strong economic partnership between the two countries.

A prominent aspect of the talks is the Reko Diq project located in the Balochistan region, which is considered one of the largest copper and gold mines in the world.

The mine will start production from 2028 and the project is expected to last for 42 years. Half of the $9 billion project is owned by a company called “Briggs,” which is listed on the New York and Toronto stock exchanges, while the other half is owned by the federal and provincial governments of Pakistan.