ISLAMABAD — A U.S. metals company signed a $500 million investment deal with Pakistan on Monday.

Pakistan’s Frontier Works Organization — which is the country’s largest miner of critical minerals — signed a memorandum of understanding with Missouri-based U.S. Strategic Metals for collaboration plans that include setting up a poly-metallic refinery in Pakistan.

The deal comes after Washington and Islamabad last month reached a trade agreement that Pakistan hoped would attract American investment in its minerals and oil reserves.

U.S. Strategic Metals is focused on producing and recycling critical minerals, which the U.S. Department of Energy has defined as essential in a variety of technologies related to advanced manufacturing and energy production.

A second agreement was signed be

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