Pakistan and Turkey sign deal to explore antimony, gold and copper in Pishin, Balochistan

Pakistan and Turkey have signed a term sheet to explore for antimony, copper, gold and other metals over almost 500 square kilometres of Pishin district in Balochistan. The state-owned Pakistan Mineral Development Corporation (PMDC) and Turkey's MTA International Company (MTAIC) signed the document at PMDC's head office in Islamabad on Friday 16 October 2026, ProPakistani reported. Turkey's ambassador to Pakistan, Dr Irfan Neziroglu, attended as chief guest.

What was signed

• Parties: PMDC, which falls under the Petroleum Division of the Ministry of Energy, represented by its managing director and CEO Engr. Asad Ahmad; MTAIC, represented by general manager Dr Nail Yildirim; and an entity to be designated by the Balochistan government.
• Area: Exploration Licence EL-318 in Pishin, covering 498.82 square kilometres.
• Minerals: antimony, copper, gold, silver, molybdenum and other associated minerals.
• Structure: the partners plan a joint venture company in Pakistan covering exploration, mining, processing and marketing, with MTAIC as operator, bringing its exploration technology.
• Standard: exploration results are to be reported under the international JORC code, the system mining investors use to judge whether a deposit is real and how big it is.
• Deadline: definitive agreements are to be finalised by 31 December 2026.

No investment figure or share split has been disclosed. A term sheet sets out the main terms the parties intend to agree; it is not yet a binding contract to mine.

Why antimony matters

Antimony is on the critical minerals lists of the US, the EU and other economies because it goes into flame retardants, batteries, metal alloys, electronics and ammunition, and supply has been tight as China, the largest producer, has restricted exports. ProPakistani noted its use in defence equipment. Pishin and the area around Quetta have long been known for antimony occurrences, which the US Geological Survey documented decades ago.

PMDC said the venture would add critical and precious metals to its portfolio, and Asad Ahmad said it would combine PMDC's geological knowledge and mining experience with MTAIC's exploration expertise, according to the report.

What it means for Pakistan

• Balochistan: the project is pitched as a source of foreign investment, modern mining technology and local jobs in the province, with the Balochistan government as a partner in the joint venture.
• Pakistan and Turkey: the deal is part of wider economic cooperation under the two countries' High-Level Strategic Cooperation Council.
• The bigger picture: Pakistan has been courting foreign partners for its minerals, from the Reko Diq copper and gold project in Chagai to critical minerals deals with US companies. Exploration is the first and riskiest stage: years of drilling usually come before any decision to build a mine.

Gold and you: if the venture does find gold, it will be years before any reaches the market. For today's rates, see the 24 karat gold price per tola on our data page, which tracks the Karachi sarafa rate.

We will update this story when the definitive agreements are signed or the joint venture's terms are made public.