Ivanhoe Mines targets Pakistan copper with Mari Energies deal

AI desk brief

Ivanhoe Mines signed an MoU with Pakistan’s Mari Energies to pursue mineral exploration, establishing a foothold in a country where Mari Minerals targets copper and gold. Financial terms, exploration commitments and a definitive-agreement timetable remain undisclosed; chairman Robert Friedland’s preference for equal partnerships does not confirm 50-50 ownership. Any eventual gold supply would depend on discoveries and development, with security, infrastructure, energy and labour constraints remaining significant. Barrick has also extended its Reko Diq review amid regional security concerns. The agreement establishes no material near-term bullion effect.