Pakistan Mineral Development Corporation (PMDC) and Türkiye’s MTA International Company (MTAIC) have signed a term sheet to jointly explore and develop mineral resources in Pishin, Balochistan, including antimony, copper, gold, silver, molybdenum, and associated minerals.
The proposed project covers Exploration License EL-318, an area spanning 498.82 square kilometers. The agreement was signed at PMDC’s head office in Islamabad on October 16, 2026.
Under the proposed arrangement, PMDC, MTAIC, and a designated entity of the Balochistan government will establish a joint venture company in Pakistan. MTAIC will lead operations, bringing modern exploration technology and international expertise to the project. Exploration work will follow the standards set by the Joint Ore Reserves Committee (JORC).
The companies aim to complete the definitive agreements by December 31, 2026. The term sheet outlines the proposed partnership, with the final contractual arrangements yet to be concluded.
Antimony is used in defense applications, flame retardants, batteries, alloys, and electronic products. Its importance as a critical mineral has increased interest in developing new sources of supply.
PMDC expects the proposed venture to attract foreign direct investment, introduce advanced technology, create jobs for local communities, and support economic development in Balochistan. The project could also expand Pakistan’s participation in international critical mineral supply chains.
The agreement is part of broader economic cooperation between Pakistan and Türkiye under the High-Level Strategic Cooperation Council framework.
Türkiye’s Ambassador to Pakistan, Dr. İrfan Neziroğlu, attended the signing ceremony as chief guest. PMDC Managing Director and CEO Engr. Asad Ahmad and MTAIC General Manager Dr. Nail Yıldırım signed the term sheet in the presence of senior officials from both organizations.
Ahmad said the partnership would combine PMDC’s geological knowledge and decades of experience with MTAIC’s exploration capabilities. He added that the venture would expand PMDC’s operations into critical and precious metals while creating opportunities for foreign investment, technology transfer, and employment.
PMDC also acknowledged the support of Federal Minister for Energy Ali Pervaiz Malik, Petroleum Division Secretary Hamid Yaqoob Sheikh, the Special Investment Facilitation Council, PMDC Chairman Shamsuddin A. Shaikh, and the company’s board of directors. The corporation also recognized the role of Türkiye’s ambassador and embassy in promoting cooperation in the mineral sector.
Established in 1974, PMDC is a wholly government-owned company operating under the Ministry of Energy’s Petroleum Division. It is responsible for mineral exploration, mining, processing, and marketing across Pakistan.
