The Reko Diq mining project in Balochistan, valued at approximately $6.6 billion, is projected to generate revenues up to $74 billion over the next 37 years. Funding for the initiative will come from a financial consortium through a combination of equity and debt financing.
Key global financial institutions, including the US Export-Import Bank (EXIM), the Asian Development Bank (ADB), and lenders from Canada and Japan, are expected to participate in financing the project.
Makhtar Diop, Head of the International Finance Corporation (IFC), highlighted the organisation’s increased focus on Pakistan’s infrastructure, energy, and natural resource sectors. “We plan to double our investments in Pakistan’s energy and natural resources sector,” he said.
Diop underlined that the Reko Diq project, Pakistan’s largest copper and gold mining venture, aims to commence production by 2028. He emphasized that the project will significantly contribute to Balochistan’s socio-economic development by creating jobs and boosting local infrastructure.
Moreover, Diop pointed out that the project will enhance foreign direct investment (FDI) inflows and elevate Pakistan’s status on the global mineral resources map.
Widely regarded as a cornerstone of Pakistan’s mineral development strategy, the Reko Diq project holds immense potential to drive economic growth and attract international investment in the coming decades.
