Pakistan Receives \$5 Billion Investment Offers for Reko Diq Copper-Gold Project

Islamabad:Pakistan has received investment offers worth \$5 billion from international financial institutions and multinational donors for the Reko Diq copper and gold mining project located in Chagai district, Balochistan—significantly exceeding the project’s estimated financial requirement of \$3 billion.

Sources told *The Express Tribune* that institutions expressing interest include the Asian Development Bank (ADB), Islamic Development Bank (IDB), International Finance Corporation (IFC), the U.S. EXIM Bank, and financial agencies from Germany and Denmark. The project’s financial structuring is reportedly in its final stages.

Federal Minister for Petroleum, Ali Pervaiz Malik, has played a key role in accelerating the project with the help of the Special Investment Facilitation Council (SIFC). Notably, the U.S. EXIM Bank has offered unrestricted financial support for the project—signaling strong international confidence.

A recent webinar hosted by the Ministry of Petroleum and the Oil and Gas Development Company Limited (OGDCL)—a government partner in the venture—brought together U.S. diplomats and investors to encourage American investment in Pakistan’s mineral sector.

Pakistan is rich in mineral resources, home to 92 different types of minerals—52 of which are commercially exploited. The Reko Diq project is considered one of the world’s largest untapped copper and gold reserves and has been revived in partnership with Canada’s Barrick Gold Corporation. Production is expected to commence by 2028 with an initial investment of \$5.5 billion.

According to Barrick Gold CEO Mark Bristow, the project could generate approximately \$74 billion over the next 37 years. It is projected to add \$2.8 billion in annual exports, create thousands of jobs, and bring transformative economic development to Balochistan.

In a significant development, Saudi Arabia’s mining company “Manara Minerals” has expressed interest in acquiring a 15% stake in the project through a \$1 billion investment—already approved by Pakistan’s federal cabinet.

The project also includes plans for a new railway line, in collaboration with Pakistan Railways, to transport extracted materials from Reko Diq to the port city of Karachi for export.