Pakistan invites Swedish firms to expand mining beyond Reko Diq

ISLAMABAD (Web Desk) - Pakistan is encouraging Swedish companies to expand their role in the country’s mining sector beyond the flagship Reko Diq project, as Islamabad seeks to accelerate foreign investment and unlock the potential of its largely untapped mineral resources.

Federal Minister for Petroleum Ali Pervaiz Malik raised the invitation during a meeting with Sweden’s Ambassador to Pakistan Alexandra Berg von Linde, an official statement said, where both sides discussed strengthening economic cooperation and identifying new areas of partnership in energy and mining.

The discussions highlighted the long-standing ties between the two countries, with Swedish firms already operating across sectors ranging from transport and telecommunications to industrial manufacturing and packaging.

According to the Swedish envoy, more than 40 companies are currently affiliated with the Swedish Business Council in Pakistan, underscoring Sweden’s established commercial presence in the country.

Von Linde said, according to the statement, mining presents a significant opportunity for deeper collaboration, noting Sweden’s global expertise in areas such as mining digitalization, sustainable extraction, environmental safeguards and specialized mining services.

“Swedish companies are already contributing to Pakistan’s mining sector and see significant potential for further expansion,” the statement quoted her as saying.

The ambassador pointed to the Reko Diq copper and gold project as a key example of ongoing cooperation, where Swedish firms are contributing products, connectivity solutions and explosives-related services.

Pakistan has positioned the massive Reko Diq deposit, considered among the world’s largest undeveloped copper and gold reserves, at the center of its strategy to revive foreign investment and boost mineral exports following years of economic strain.

The government estimates the mine could generate roughly $70 billion in free cash flow and $90 billion in operating cash flow over its lifespan. Production is expected to begin in 2028.

Canadian mining giant Barrick Gold, the Government of Pakistan and the provincial government of Balochistan jointly own the project.

Malik described Reko Diq as the “jewel” of Pakistan’s mining industry, praising the companies and stakeholders involved for maintaining steady progress on the project despite logistical and operational challenges.

He noted that work has advanced without a single day of delay.

Looking beyond the project, the minister said Pakistan intends to spotlight broader mining and exploration opportunities at the Pakistan Minerals Investment Forum 2026, where international companies will be invited to explore investments across related sectors.

“We want partners like Sweden to expand their footprint beyond Reko Diq and participate in Pakistan’s wider mining ecosystem,” Malik said.

The Swedish ambassador recalled that the previous edition of the minerals forum attracted strong international participation.

Sweden maintained an official presence at the event, while five Swedish companies also took part independently.

She expressed hope that a larger Swedish delegation, including representatives from the Business Development Association, would attend the upcoming forum.

Malik said this year’s event is expected to be significantly larger and more influential, emphasizing that Pakistan’s exploration sector still holds substantial untapped potential for international investors.

Both sides agreed to continue engagement aimed at expanding bilateral investment, encouraging technological exchange and promoting sustainable development in the mining and energy sectors.