August 2, 2025: Pakistan has secured funding offers of over $5 billion from multinational donors and agencies to execute the massive Reko Diq copper and gold mining project in the Balochistan region. The commitments, which come amidst a new trade deal with the United States, surpass the project’s estimated funding requirement of $3 billion.
According to a report from news agency, donors include prominent institutions such as the Asian Development Bank (ADB), Islamic Development Bank (IDB), International Finance Corporation (IFC), and the US Exim Bank. The US Exim Bank is reportedly offering unlimited funding, signaling a strong international commitment to the project.
The Reko Diq project, which was revived by Canada’s Barrick Gold, is now in advanced stages of financial closure. The project is expected to begin producing copper and gold by 2028, with an initial investment of $5.5 billion. Pakistan’s Petroleum Minister, Ali Pervaiz Malik, is leading aggressive efforts to expedite the work with support from the Special Investment Facilitation Council (SIFC).
The mineral-rich project is a key part of Pakistan’s strategy to leverage its vast mineral reserves, which currently contribute only a small fraction to the country’s GDP. According to Barrick Gold CEO Mark Bristow, the project’s reserves are projected to generate an impressive $74 billion in free cash flow over the next 37 years.