ISLAMABAD — Canadian mining company Ivanhoe Mines has signed a memorandum of understanding (MoU) with Pakistan’s Mari Energies, marking its entry into South Asia as the country steps up efforts to attract foreign investment in its mineral sector. Ivanhoe Mines Chairman Robert Friedland announced the agreement on Thursday on the sidelines of the Pakistan Minerals Investment Forum in Islamabad.
He said the company was also in the early stages of establishing a local office in Pakistan and planned to sign another MoU on Friday. Mari Energies Partnership Opens Door to Mining Projects Mari Energies’ mining subsidiary, Mari Minerals, is involved in multiple mineral exploration projects in Pakistan, including copper and gold. The agreement creates a partnership between the Canadian miner and a local energy company with an existing presence in mineral exploration.
The partnership expands Ivanhoe Mines’ international footprint beyond its major mining projects in southern Africa. “We’re excited to be here in Pakistan,“ Friedland said. Pakistan Seeks Foreign Investment in Mineral Sector The agreement comes as Pakistan intensifies efforts to attract international mining companies and investment into its largely untapped mineral resources.