The Reko Diq copper-gold mining project is expected to achieve financial closure by next month, according to sources cited by ARY News. Major international financial institutions, including the U.S. EXIM Bank, U.K. EXIM Bank, and the World Bank, are likely to be part of the financing arrangement.
In addition to these global lenders, Pakistan’s federal and Balochistan governments, along with the Asian Development Bank, are expected to contribute to the funding process. Negotiations are in the final stages, focusing on finalizing loan terms with international partners.
The total projected investment in the project is around $3 billion from foreign financiers. The federal government will contribute $3.4 billion in total financing—half of which will be on behalf of Balochistan.
Once financial closure is achieved, the project is expected to enter the production phase within three years, paving the way for increased foreign investment in Pakistan.
The recent Pakistan Minerals Investment Forum highlighted the project’s potential, with experts presenting data on Reko Diq’s reserves. Barrick Gold CEO Mark Bristow reaffirmed the company’s commitment, calling the project a game-changer for Pakistan’s mining sector, with the potential to create thousands of jobs and significantly boost the economy.
