Canadian mining company Ivanhoe Mines has entered Pakistan by signing a memorandum of understanding (MoU) with Mari Energies, marking its expansion into South Asia as the country seeks to attract international investors to its mineral sector.

Ivanhoe Mines Chairman Robert Friedland announced the agreement on Thursday on the sidelines of the Pakistan Minerals Investment Forum 2026 in Islamabad.

He said the company was also working to establish a local office in Pakistan and expected to sign another MoU on Friday.

The agreement brings Ivanhoe Mines together with Mari Minerals, the mining subsidiary of Mari Energies, which is already involved in several mineral exploration projects in Pakistan, including copper and gold.

Friedland welcomed the company’s entry into the Pakistani market, saying Ivanhoe Mines was excited to begin its engagement with the country.

The development adds another international mining company to Pakistan’s growing list of potential foreign investors as the government pushes to attract capital and technical expertise for the development of its largely unexplored mineral resources.

Pakistan has also explored offering incentives to American companies interested in its mining sector as part of broader discussions with Washington over trade and tariffs.

However, security risks remain a major concern for international mining investors.

Barrick Mining previously extended its review of the Reko Diq copper and gold project in Balochistan amid growing security concerns in Pakistan and the wider Middle East.

Reko Diq is planned to process 45 million tonnes of ore annually during its initial phase. Processing capacity is expected to double to 90 million tonnes after the second phase is completed.

The project has an estimated operating life of 37 years, which could potentially increase to 80 years through further exploration and development.