Pakistan and Australia have opened new doors of mutual cooperation in the mineral resources sector, focused on the development of the Rico Deck Project and the major role of Pakistan Strategic Investment Facility (SIFC).
The recent talks between the two countries have agreed to the economic participation in the management of energy, minerals and water resources.
The Energy Minister, who led the Pakistani delegation, highlighted the importance of strengthening institutional relations, emphasizing Australia’s mining skills. On the occasion, Australia offered modern training programs for Pakistani institutions in the field of minerals, which will help in building the mining sector in the country on modern lines.
This partnership has the central significance of the recoding project, where mineral reserves worth $ 65 billion are available. These include 2 billion tonnes of copper and 20 million ounces of gold reserves that can show new ways for the domestic economy. SIFC has played an important role in the facility of investment in mining and energy sectors for Australian companies.
Under this partnership, SIFC support will promote a commercial environment for joint enterprises in the mining sector, which will not only attract international investors, but will also ensure effective use of mineral resources in the country. The move is considered an important step towards strengthening the role of the mineral sector in Pakistan’s economic development.
