ISLAMABAD: In a major breakthrough for Pakistan’s mining sector, the country has successfully delivered its first shipment of rare earth elements and critical minerals to US Strategic Metals (USSM) in the United States.
According to PRNewswire, the consignment includes antimony, copper concentrate, and rare earth elements containing neodymium and praseodymium, all sourced and prepared locally in Pakistan.
Pakistan’s natural resources are valued at an estimated $6 trillion, making it one of the world’s richest countries in terms of mineral wealth.
Stacy W. Hastie, CEO of USSM, hailed the milestone as the first step in an exciting journey with Pakistan’s Frontier Works Organization (FWO). He said the partnership aims to strengthen trade and friendship between the two nations while ensuring a reliable supply of critical minerals for the United States.
Last month, USSM and FWO signed a $500 million memorandum of understanding (MoU) to boost cooperation in the mining and minerals sector. The deal marks a new chapter in US-Pakistan economic and strategic collaboration.
US Chargé d’Affaires Natalie Baker also praised the agreement, calling it another example of the strong US-Pakistan bilateral relationship that benefits both nations.
USSM, based in Missouri, specializes in producing and recycling critical minerals essential for advanced manufacturing, defense, and clean energy technologies.
Prime Minister Shahbaz Sharif earlier said that during his meeting with US President Donald Trump in New York, the president had instructed American companies to immediately invest in Pakistan.
The prime minister also confirmed that several joint ventures have already been finalized, marking a significant step toward economic revival and global trade integration for Pakistan.