Pakistan and US Strategic Metals sign a $500 million MoU to develop and export critical minerals, including rare earth elements.

Pakistan said on Monday that it has inked a $500 million Memorandum of Understanding (MoU) with US Strategic Metals (USSM), a US-based business. Excited to see US businesses like USSM strengthening their commercial connections with Pakistan, the US Embassy in Islamabad remarked on X. A key milestone was reached during USSM's visit to Islamabad when they signed an MOU to work together on the production of vital minerals, collaboration with a lot of promise for the future of both countries.

The Missouri-based business USSM focuses on mining copper, nickel, and cobalt as well as recovering and recycling essential minerals, particularly from wasted lithium-ion batteries. The US Department of Energy claims that advanced industrial and energy-generating technologies depend on these minerals.

Zach Harkenrider, Acting Deputy Chief of Mission, escorted a team led by the USSM to the Prime Minister's House, where the MoU with Pakistan's Frontier Works Organization (FWO) was signed, according to a Dawn story that cited a news release from the US Embassy.

According to US Chargé d'Affaires Natalie Baker, this agreement is just one more illustration of the robust bilateral relationship between the US and Pakistan that will be advantageous to both nations. Based on the significance of vital mineral resources to American security and prosperity, Baker claimed that the administration of US President Donald Trump has made negotiating such agreements a top priority.