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ISLAMABAD: Nova Minerals, a US-based mining exploration and development company, has expressed interest in long-term investment in Pakistan’s mining and mineral sectors, the Pakistani government said on Thursday, citing the country’s geological diversity and improved policy environment.

The statement came after Board of Investment (BOI) Minister Qaiser Ahmed Sheikh’s meeting with a delegation from Nova Minerals Ltd., a US-based firm listed on the ASX and NASDAQ that focuses on gold, antimony and rare earth minerals, according to Pakistan’s Press Information Department (PID).

Sheikh highlighted Pakistan’s vast and largely untapped potential in the minerals and mining sector, emphasizing that the country offers promising investment opportunities across multiple areas, particularly in exploration and processing of high-value minerals.

He stressed that his government is committed to promoting value-added exports and aims to transition from raw mineral extraction toward local mineral processing and industrial upscaling, assuring the BOI will fully facilitate foreign investors and joint ventures.

“The Nova Minerals delegation expressed strong interest in exploring investment opportunities in Pakistan’s mineral and mining sectors, particularly in antimony and rare earth minerals. The company’s representatives conveyed that Pakistan’s geological diversity, government facilitation, and policy reforms make it an attractive destination for long-term investment,” the PID said.

“They also expressed interest in establishing technical collaboration, knowledge exchange, and feasibility studies to assess specific investment projects in partnership with local entities.”

The development comes more than a month after Pakistan dispatched its first ever shipment of rare earth and critical minerals to the United States, a Chicago-based public relations (PR) firm said, following a landmark $500 million deal between the two countries.

The agreement, signed between American firm US Strategic Metals (USSM) and Pakistan’s Frontier Works Organization (FWO), aimed to create a framework for joint development of the entire mineral value chain, including exploration, beneficiation, concentrate production and eventual establishment of refineries in Pakistan.

Pakistan indigenously sourced and prepared antimony, copper concentrate, and rare earth elements with neodymium and praseodymium for shipment, according to US firm PR Newswire. With this first delivery and a multi-phase investment framework underway, Pakistan is now positioned as a rising force in the global critical mineral economy.

Sheikh appreciated Nova Minerals’ keen interest and reaffirmed that the government encourages responsible, technology-driven ventures that ensure sustainability and local value addition.

“He stated that such initiatives would help create an ecosystem conducive to further foreign investment in Pakistan’s mining sector,” the PID said.

“The Minister reiterated that the Board of Investment remains committed to facilitating all investors through a transparent, efficient, and investor-friendly framework, ensuring that Pakistan’s abundant natural resources translate into sustainable economic prosperity.”