*Multinational institutions surpass $3 billion funding target forBalochistan’s flagship mining venture*
ISLAMABAD – Pakistan has received more than $5 billion in financingcommitments from a consortium of international donors for the Reko Diqcopper and gold mining project in Balochistan, according to a report by TheExpress Tribune citing official sources. The commitments have significantlyexceeded the project’s estimated funding requirement of $3 billion,reflecting strong global interest in the large-scale resource development.
Key financial backers include the Asian Development Bank (ADB), IslamicDevelopment Bank (IDB), International Finance Corporation (IFC), and the USExport-Import Bank (US Exim). In addition, several European developmentagencies, particularly from Germany and Denmark, have also offered toparticipate in the project.
The Reko Diq mine, located in Pakistan’s mineral-rich Chagai district, isconsidered one of the largest undeveloped copper-gold deposits in theworld. The project’s revival and financing are seen as crucial stepstowards economic development in Balochistan and enhancing foreigninvestment in Pakistan’s mining sector.
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According to sources, the strong donor interest stems from improved legalclarity, investor protections, and the government’s commitment tointernational arbitration resolutions. The successful mobilization offunding is expected to accelerate the implementation timeline, withearly-stage development likely to begin soon.
This financial backing marks a significant milestone for Pakistan, as itseeks to transform its mineral wealth into long-term economic gains andboost investor confidence in large-scale industrial projects.