Highlights

• Pakistan's mineral wealth, including Reko Diq's copper and gold, attracts international interest amid geopolitical strategic positioning.
• Field Marshal Asim Munir's claims of rare earth reserves potentially solving national debt are likely overstated without concrete geological evidence.
• U.S. and China's interest in Pakistan's mineral resources represents a complex diplomatic and economic balancing act.

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Pakistan does hold mineral wealth, including copper and gold at the Reko Diq project (opens in a new tab) and scattered rare earth occurrences. U.S. officials have recently shown broader interest in diversifying supply chains away from China, and in that sense, American curiosity about Pakistan’s mineral reserves is plausible. Reko Diq, long delayed by disputes, is once again being advanced under Barrick Gold (opens in a new tab), which has the technical and financial capacity to move it forward. These are the factual anchors of the story.

The General’s Gold-Plated Promises

India media stretches the realities with Field Marshal Asim Munir’s (opens in a new tab) sweeping claim that Pakistan’s “rare earth treasure” could wipe out the nation’s debt and usher in prosperity. This echoes past overstatements, such as the 2019 “massive oil discovery” that fizzled when official drilling results proved disappointing. Pakistan does not currently have confirmed, large-scale, high-grade rare earth reserves comparable to China, the U.S., or even Africa’s southern belt. To imply a debt-busting bonanza risks overselling geology for political theater.

Washington, Beijing, and the Balancing Act

The recent piece in India Today (opens in a new tab) leans into geopolitical drama—suggesting that Trump’s pivot toward Pakistan is driven less by oil and more by rare earth leverage. While U.S.-India tensions and new tariffs are indeed straining relations, the evidence that rare earths are now a central driver of Washington-Islamabad ties is speculative at best.

At most, rare earths are one among many bargaining chips in a complex security and trade chessboard. The suggestion that Pakistan could easily balance China and the U.S. on minerals is also optimistic, given its deep reliance on Chinese infrastructure investment.

Media Spin or Misinformation?

In the recent India Today article, the author notes Pakistan’s history of resource exaggeration. However, by amplifying Munir’s rhetoric without geological data or economic feasibility studies, it risks misleading investors or the public into believing Pakistan is on the cusp of becoming a rare earth powerhouse. The evidence does not yet support that.

The reminder for Rare Earth Exchanges (REEx) readers: until hard feasibility results and commercial-scale reserves are confirmed, treat such claims as political messaging, not investment reality.

Citation: India Today, “With this treasure...: Asim Munir's 'rare earth' boast after oil deal with US”, Sayan Ganguly, Aug 17, 2025.

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