Finnish technology powerhouse Metso has expressed a strong interest in investing in Pakistan’s mineral sector, with a focus on the Reko Diq copper and gold mining project. The move signals a major step in bringing advanced European mining expertise into one of the world’s most significant underdeveloped copper-gold reserves.
The announcement came during a high-level meeting in Islamabad between Piia Karhu, President of Minerals at Metso, and Bilal Azhar Kayani, Minister of State for Finance and Railways. Discussions revolved around expanding investment opportunities in Pakistan’s mineral sector, particularly in copper mining, with Metso committing to supply advanced mining technologies, equipment, and training for local workers.
Karhu outlined Metso’s plans to integrate its technology and services into the Reko Diq project, which has long been hailed as a game-changer for Pakistan’s economy. The Reko Diq mine, situated in Balochistan, is regarded as one of the world’s largest underdeveloped copper-gold deposits. After years of delays due to legal disputes, production is targeted to begin by December 2028.
Kayani highlighted the government’s infrastructure initiatives, particularly the ML-1 and ML-3 railway projects, which are critical to ensuring timely transportation and logistics for Reko Diq’s development. He welcomed Metso’s participation as a partner in advancing economic activity and reaffirmed Pakistan’s commitment to creating a secure environment for global investors.
The significance of Reko Diq has already attracted global players. Barrick Gold, the Canadian mining company, currently holds a 50% stake in the project, while the governments of Pakistan and Balochistan share the remaining half. With new entrants like Metso expressing interest, the project is expected to gain further momentum, driving foreign direct investment into the country.
In a separate engagement, Metso’s delegation, along with Finland’s Ambassador to Pakistan Hannu Ripatti, met with Federal Minister for Petroleum Ali Pervaiz Malik. The discussion focused on Pakistan’s transformation of its mineral sector, where the government is moving away from primitive extraction methods towards mechanised and responsible mining practices. Malik emphasised that the government has updated regulatory frameworks to harmonise the mineral sector, making it globally competitive.
Malik described the Reko Diq project as the “torch bearer for Pakistan’s mineral sector” and reassured the Finnish delegation of the state’s commitment to providing a stable policy environment for investors. He stressed that responsible mining is essential not only for economic growth but also for ensuring sustainable practices in resource management.
Karhu reinforced Metso’s plans, stating that the company will not only provide cutting-edge mining equipment but also invest in skill development. She noted that Metso intends to train local human resources, aligning with Pakistan’s goals of enhancing technical expertise and building sustainable economic opportunities. This focus on local capacity building is expected to boost employment and create long-term benefits for the country’s workforce.
Metso’s entry into Pakistan’s mining sector comes at a time when the country is seeking large-scale foreign investment to revive its struggling economy. The Reko Diq project, once operational, is projected to significantly increase Pakistan’s mineral exports and provide critical support to its foreign reserves.
The engagement between Metso and Pakistan’s leadership marks another milestone in strengthening ties between Finland and Pakistan while signalling a broader global interest in Pakistan’s resource sector. For a country facing economic challenges, the convergence of technology, foreign investment, and mineral wealth could become a pivotal driver of growth in the coming years.
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