Claiming to hide the treasure of billions and trillions in the soil of Pakistan, now the US is also determined to invest there. A US metal company has signed a large deal of about $ 550 million (ie about 14,000 crore rupees) with Pakistan. Its purpose is to discover and refine Pakistan’s mineral resources and sell them worldwide.
The agreement has been reached between US STRETEGIC METALS (USSM) and Pakistan’s Frontier Works Organization (FWO), located in Missouri, USA. FWO is the largest mineral mining organization under Pakistan’s Army. Under this agreement, the two will jointly create a poly-Metallic refinery and start new projects for digging minerals.
Which minerals will be excavated?
Through this partnership, America will get such minerals from Pakistan which are considered very important for future technology. These include gold, copper, tungsten, antimony and Rare Earth Elements. These are the same minerals that are used in electric vehicles, mobiles, satellites and clean energy technology.
Why does Pakistan expect this deal?
The government of Pakistan believes that the country’s mineral resources are billions of dollars, which can be used properly and can get out of its long -standing economic crisis. Prime Minister Shahbaz Sharif himself met the representatives of the American company and said that the agreement is expected to get the country relief from the debt burden.
Army chief told ‘rare treasure’
Pakistani Army Chief Asim Munir termed the minerals as ‘rare soil treasures’ and said that it would bring prosperity in the country. He informed that this partnership will not be limited only to the excavation of minerals, but will also work towards converting minerals into value-aided products.
The US embassy in Islamabad has also expressed happiness over this agreement. According to the embassy, this deal will further strengthen America-Pakistan relations. The embassy wrote on social media, “Investing by USSM in Pakistan is a step of immense possibilities for both countries.”
America’s Balochistan eye
Significantly, most of the minerals of Pakistan are present in Balochistan, which is a turbulent area. There have been separatist activities and violent rebellions for a long time. Recently, the US had also declared the Balochistan National Army a foreign terrorist organization. In such a situation, investing here can also be risky for American companies.