Pakistan to construct island to boost oil exploration: report
Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas United States.
Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas United States.
Pakistan on Friday announced over a dozen mineral cooperation agreements with foreign companies and countries, declaring that it would move away from exporting raw materials and unprocessed minerals as it seeks to reshape its economic and development priorities.
Petroleum Minister Ali Pervaiz Malik said on Friday that Pakistan’s exploration efforts were increasingly focused on minerals that were of strategic importance to global investors.
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.
Political leadership of Pakistan's two mineral rich provinces on Thursday extended security guarantees to foreign investors, as the federal government is also expected to announce new promissory deals with an international mining firm to extract critical minerals.
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