Pakistan has signed a memorandum of understanding (MOU) for a value of $ 500 million with a company of American metals, the strategic metals of the United States (USSM), arose on Monday.
The USSM, based in the state of Missouri, focuses on the production and recycling of critical minerals, which the United States Department of Energy has defined as essential in a variety of technologies related to advanced manufacturing and energy production.
The USSM is a company that specializes in the extraction of critical metals of the old lithium -ion batteries and cobalt, nickel and copper mining, according to its website. According to the American Embassy, the United States Department of Energy has defined critical minerals as essential in a variety of technologies related to advanced manufacturing and energy production.
A press release from the United States Embassy, published on Sunday, declared that the Interim Mission Deputy Director Zach Harkenrider accompanied a delegation led by the USSM to sign a memorandum of understanding with the organization of works Frontier (FWO) in the home of the prime minister.
Speaking about the signature of Mou, the American loaded Natalie Baker said: “This firm is another example of the strength of the bilateral relationship of the United States for Pakistan that will benefit both countries.”
Speaking about the importance of such bilateral agreements, Baker said that the administration of the president of the United States, Donald Trump, has made forging such agreements a key priority, based on the importance of critical mineral resources for US security and prosperity.
“We hope to see future agreements between US companies and their counterparts in critical minerals and the mining sector in Pakistan.”
A statement from Prime Minister’s house said the USSM delegation is visiting Pakistan to explore opportunities to expand the country’s mining operations and evaluate the value potential of value in mineral resources and the development of the support infrastructure.
“[The] The delegation held high -level meetings with [the] Prime Minister of Pakistan, Chief of Army personnel, Minister of Petroleum and Minister of Commerce and were informed about the vast mineral reserves of Pakistan, including copper, gold and elements of rare earths, ”said the statement.
“In this context, two comprehension memorandums, focusing on [the] The development and processing of critical minerals were signed, including rare earth elements (REE) and logistics services. “
The second Mou was signed between the National Logistics Corporation of Pakistan and Mota-Engil, a world leader in engineering and construction.
“The current Opportunities Survey in Pakistan aims to identify the priority markets in which Mota-Engil can align with government visions and private sector initiatives. The group seeks to build long-term associations that take advantage of their global knowledge while creating value locally through job creation, technology transfer and sustainable development.”
According to the statement, the association will begin immediately with the export of easily available minerals of Pakistan, including antimony, copper, gold, tungsten and rees.
“The first phase of this Agreement is expected by approximately $ 500 million in the Critical Minerals of Pakistans,” reads the statement.
Pakistan’s relations with the US have improved, with both nations recently signing commercial agreements. Islamabad successfully negotiated a reduction in reciprocal rates, from 29 percent to 19 percent, after the two nations concluded a commercial agreement in July.
This was after Trump announced that the United States had concluded an agreement with Islamabad that would allow the two allies to work together in the development of Pakistan’s vast oil reserves.
In April of this year, a senior American official had underlined Washington’s strategic interest in the Pakistan mineral sector, indicating an impulse for long -term cooperation in the development of key critical mineral resources for American advanced technologies.
“Critical minerals are the raw materials necessary for our most advanced technologies,” Eric Meyer, an official of the Senior Office of the Office of the Department of State for South Affairs and Central Asians, in a statement issued by the United States Embassy in Islamabad in his visit was cited.
