Pakistan and US Strategic Metals (USSM), a Missouri-based company specializing in critical mineral extraction and recycling, signed a $500 million memorandum of understanding (MoU).

The agreement, signed at the Prime Minister’s House, aims to develop Pakistan’s mining operations and add value to its mineral resources.

The US Embassy highlighted the deal as strengthening US-Pakistan relations and aligning with the US administration’s focus on securing critical mineral resources.

The MoU includes plans to export minerals like antimony, copper, gold, tungsten, and rare earth elements (REEs), with an initial investment of approximately $500 million.

This collaboration follows recent improvements in US-Pakistan relations, including a trade deal that reduced reciprocal tariffs and agreements regarding Pakistan’s oil reserves.

The US has previously expressed strategic interest in Pakistan’s mineral sector due to its importance for advanced technologies.

A second MoU was also signed between Pakistan’s National Logistics Corporation and Mota-Engil Group for logistics services related to the mineral exports.