Pakistan delivers first shipment of rare earth elements, critical minerals to US
Pakistan has successfully delivered its first batch of rare earth elements and critical minerals to US Strategic Metals (USSM) in the United States.
Pakistan has procured and prepared antimony, copper concentrate, and rare earth elements with neodymium and praseodymium domestically for its maiden shipment, according to PRNewswire.
According to the report, Pakistan has one of the world’s greatest reserves of rare earth minerals and precious metals, with an estimated $6 trillion in natural resources.
“We view this as the initial stride in our thrilling partnership with the Frontier Works Organisation (FWO) of Pakistan, aimed at supplying essential minerals to the United States and enhancing economic trade and camaraderie between our nations,” stated Stacy W. Hastie, CEO of USSM.
In the previous month, USSM and FWO established a memorandum of understanding (MoU) valued at $500 million to enhance collaboration in the critical minerals industry, signifying progress toward more profound economic and strategic ties between both nations.
Commenting on the MoU signing, US Chargé d’Affaires Natalie Baker stated, “This signing exemplifies the robustness of the US-Pakistan bilateral relationship that will serve both nations well,” as mentioned in the embassy’s press release at that time.
USSM, located in Missouri, is dedicated to the production and recycling of vital minerals, which the US Department of Energy considers crucial for various technologies linked to advanced manufacturing and energy generation.
Earlier, Prime Minister Shehbaz Sharif, addressing the media in New York about his recent discussion with the US President, mentioned that Trump instructed American firms to promptly invest in Pakistan.
“Shehbaz stated that he directed US companies to travel to Pakistan right away and explore investment prospects.”
The prime minister revealed that multiple partnerships were also established with American companies.