ISLAMABAD – Pakistan’s mineral rich region Balochistan attracted staggering $5 billion investment offer from top international financial giants and multinational donors for world-renowned Reko Diq gold and copper project in Balochistan’s Chagai district.
Asian Development Bank (ADB), Islamic Development Bank (IDB), US Export-Import Bank, International Finance Corporation (IFC), and agencies from Germany and Denmark are all lining up to pour funds into this mining marvel.
Federal Petroleum Minister Ali Pervez Malik, alongside Special Investment Facilitation Council, is turbocharging efforts to fast-track this mega-project that promises to unlock untold mineral wealth.
US Export-Import Bank’s jaw-dropping offer of unlimited financial backing signals the global community’s intense confidence in Reko Diq’s potential.
This game-changing project, resurrected with Canadian mining giant Barrick Gold, is set to kickstart production by 2028. With an initial investment of $5.5 billion, Barrick’s CEO Mark Bristow forecasts mind-blowing profits of $74 billion over the next 37 years.
Saudi Arabia’s mining giant Manarah Minerals is also ready to jump in with a massive $1 billion investment for a 15% stake, already greenlit by Pakistan’s federal cabinet.
A brand-new railway line will be laid from Reko Diq to Karachi with Pakistan Railways’ help for smooth transport of mining equipment and exports. Pakistan’s mineral wealth is finally set to shine on the global stage, with Reko Diq leading the charge to economic prosperity and international acclaim.
