US-based mining company eyes mining in Pakistan

ISLAMABAD: The US-based mining company Nova Minerals Limited has announced that the talks concerning a possible antimony mining project in Pakistan are still at an early stage, which is contrary to market speculation that a firm agreement has been reached.

According to the company, the discussions are purely exploratory and only cover the possibility of purchasing antimony concentrate from Pakistan for testing purposes.

In an investor statement, Nova Minerals clarified that the negotiations are mainly about the processing plant’s capacity and that there is no binding contract or long-term supply commitment involved.

The company emphasized that no decisions regarding investments in antimony mining in Pakistan have been made yet. By the end of 2026, Nova Minerals indicated that their main focus would be on the completion of feasibility studies for their gold projects, while the US would be a major source of production for military-grade antimony trisulfide.

All this is made possible by a $43.4 million financial grant from the US Department of Defense. Antimony is a key strategic metal that finds application in the defence sector, batteries, and as a flame retardant.

The reports of potential collaboration between Nova Minerals and local companies have caused a surge in interest in antimony mining in Pakistan. Nonetheless, the company has again made it clear that all talks are still at the very initial stage, and no final commercial agreements have been made.