Pakistan Minerals Investment Forum 2026: Ivanhoe and Mari Sign Chagai Copper and Gold Exploration Deal

Deputy Prime Minister and Foreign Minister Ishaq Dar opened the forum on 12 November. The chief ministers of Punjab, Sindh, Balochistan and Gilgit-Baltistan, the AJK prime minister and the KP governor attended. The federal government's message was simple: Pakistan wants foreign mining money, and it says the provinces will share the jobs and the benefits.

PMIF-26 was held in Islamabad on 12 and 13 November 2026

The forum took place over two days, Thursday 12 and Friday 13 November 2026, at the Jinnah Convention Centre in Islamabad. It had an opening session, panel talks and an international exhibition of mining projects. It was first planned for April 2026 and was moved to November.

The day before the forum, on 11 November, Mr Dar was briefed by the petroleum minister on how visiting delegations would be received and supported. The government treated the event as a diplomatic exercise as much as a trade show.

Ivanhoe Atlantic and Mari Minerals signed a Chagai copper and gold deal

The biggest concrete outcome was an exploration agreement. Ivanhoe Atlantic and Mari Minerals signed it on 12 November in front of Petroleum Minister Ali Pervaiz Malik. The two companies will explore Chagai in Balochistan to measure its copper and gold and find projects worth developing.

It is important to be clear about what this agreement is. It is an exploration deal. That means drilling and survey work to find out how much metal is in the ground. It is not a mining licence, and it does not mean a mine will open. The release gave no investment figure and no timeline.

Chagai is the same district as Reko Diq, the large copper and gold project run by Barrick. The financing story behind that project is set out in our Reko Diq explainer.

Barrick, Weir and Trafigura met the petroleum minister

Ali Pervaiz Malik held separate meetings with four foreign groups at the forum. Weir wants work beyond Reko Diq. Trafigura is interested in the Zinc-Barite project and in LPG, bonded storage and refineries. Barrick's chairman also attended. None of these meetings produced a signed deal.

Interest is not investment. A company "keen" on a project still needs a licence, a feasibility study and a financing plan before money arrives. Readers should treat everything in the last two rows as a starting point.

Ahsan Iqbal asked for a joint group on the Nokundi to Gwadar road

Planning Minister Ahsan Iqbal told Barrick on 12 November that the Nokundi to Gwadar road corridor must be fast-tracked so minerals can reach the port. He proposed a joint working group of the planning ministry, NHA, the Balochistan government and mining companies. It is a proposal, not an approved project.

The minister said the group should settle the technical needs, feasibility, financing and how the work would be done. He also asked for detailed topographic and 3D mapping data to speed up the feasibility study of the "missing link" in the route.

He linked the road to a bigger target. Under the National Economic Transformation Plan 2035, the government wants exports of US$100 billion a year, and it expects mining to play a large part. For comparison, Pakistan exported $8.44 billion of goods in July to September 2026, as listed in our PBS export list for the quarter.

The commerce minister wants small miners linked to big companies

Commerce Minister Jam Kamal Khan toured the exhibition on 13 November and met ambassadors, trade officers and investors. A day earlier he told a Wood Mackenzie team that small Pakistani miners and leaseholders should be joined with big foreign firms through joint ventures. He also asked for lower duties on mining equipment.

His points, as listed in the two Ministry of Commerce releases, were:

1. Join small-scale miners and existing leaseholders with international companies through joint ventures, technology transfer and finance.
2. Offer investor-friendly policies, competitive taxes and lower import duties on special mining equipment.
3. Improve coordination between the federal government and the provinces, which grant most mineral leases.
4. Move to value addition step by step: working mines first, then copper smelting, refining and manufacturing.
5. Use trade agreements and better market access to sell more minerals abroad.

He named copper, antimony, iron ore and gemstones as the minerals with the most room to grow. The same ministry is also reworking the export body TDAP, under the 12-month TDAP plan approved by the Prime Minister. None of these suggestions has been notified as a policy change. A cut in duty on mining equipment would need a budget measure or a notified order.

What PMIF-26 means for people in Pakistan

For most readers, the forum changes nothing this month. No new fee, tax or rule came out of it. Its value is in the projects it may start: exploration work in Chagai, possible new work for Weir and Trafigura, and a planned road to Gwadar that would need federal and provincial money.

• Balochistan residents: exploration in Chagai can bring short-term survey and camp jobs. Mining jobs come only if a mine is approved later.
• Investors: the deals so far are early stage. Watch for formal filings by listed companies before buying on news.
• Exporters and transporters: the Nokundi to Gwadar corridor is still at the proposal stage, with no budget or start date.

Common questions

When was the Pakistan Minerals Investment Forum 2026?

It was held on 12 and 13 November 2026 at the Jinnah Convention Centre in Islamabad. It was first planned for April and moved to November.

Who opened PMIF-26?

Deputy Prime Minister and Foreign Minister Ishaq Dar opened it on 12 November and inaugurated the international exhibition.

What deal was signed at the forum?

Ivanhoe Atlantic and Mari Minerals signed an agreement to explore for copper and gold in Chagai, Balochistan. It is an exploration deal, not a mining licence.

Did any company announce a new investment amount?

No. The official releases give no dollar figure for any deal or meeting at the forum.

Is the Nokundi to Gwadar road approved?

No. Ahsan Iqbal proposed a joint working group to prepare feasibility, financing and technical work. No approval or start date has been announced.

Which minerals did the government highlight?

Copper, gold, antimony, iron ore, gemstones and zinc-barite were named in the releases from the commerce and petroleum ministries.

How we verified this

What we checked and where we read it.

We checked these Press Information Department releases on 14 November 2026: PR 145 on the opening session, PR 146 on the exhibition, PR 150 on the Nokundi to Gwadar corridor, PR 151 on the petroleum minister's meetings and the Ivanhoe and Mari agreement, PR 159 on the commerce minister's visit, PR 133 on the Wood Mackenzie meeting and PR 126 on the 11 November briefing. The releases use both "Pakistan Minerals Investment Forum" and "Pakistan Mineral Investment Forum"; we use the first, which appears on the opening release.