Pakistan is getting a half a billion dollars in fresh capital for natural resources exploration. And a private company based in Missouri is behind it.
What’s happening:
- Missouri based mining company US Strategic Metals has committed $500M USD in funding to begin mining exploration in Pakistan through a new deal with Pakistan’s Frontier Works Organization
Why it matters:
- This is one of the single largest investments ever made by a American company into mining natural resources within Pakistan
Going deeper:
- US Strategic Metals has publicly stated they plan to begin exploration for gold, antimony, copper, tungsten and rare earth elements
- The Export-Import Bank of the United States previously gave US Strategic Metals a letter of interest for a $400M USD loan, which followed a strategic investment of $50M USD from global mining giant Glencore
The intrigue:
- Glencore and US Strategic Metals also have a offtake agreement in which Glencore has the exclusive rights to purchase and distribute all of the cobalt, nickel, lithium and copper that US Strategic Metals produces
