Reko Diq Project to Begin Production in 2028, Attracts $75 Billion Investment

ISLAMABAD/QUETTA — Pakistan’s National Assembly, under the chairmanship of Deputy Speaker Syed Ghulam Mustafa Shah, was briefed on the details of the Reko Diq project by Minister for Petroleum, Ali Pervaiz Malik. He revealed that production in the first phase of the Reko Diq mining project will commence in 2028, targeting an annual output of 300,000 ounces of gold and 200,000 tons of copper.
The second phase of production is scheduled to begin in 2034, with an annual goal of 500,000 ounces of gold and 400,000 tons of copper. Malik described the project as the largest investment in Pakistan’s history, with a total estimated value of $75 billion. The mining license is valid for a period of 37 years.
He further stated that Balochistan has been allocated a 25% share in the project, in addition to revenues from taxes, royalties, and other sources. Balochistan will receive $5 million in royalties in the first year, $7.5 million in the second year, and $10 million annually until commercial production begins in 2028, amounting to a total of $50 million in pre-production disbursements.
So far, $5.3 million has been spent on providing facilities for the project, while a further $10 million has been paid to Balochistan as an advance during the construction phase. The project is expected to generate approximately 7,500 jobs during its development and implementation stages.
Minister Malik also clarified that there is currently no investment from Saudi Arabia in the Reko Diq project, although both countries are working jointly to explore future investment opportunities.