In a positive development, Pakistan’s exports to get a $4 billion boost
Canada’s Barrick Gold will resume the Reko Diq project with a 50 percent stake while the remaining 50 percent will be reserved for the Government of Pakistan (GoP) and the Government of Balochistan (GoB).
According to a report by Arif Habib Limited (AHL), investment in the country will be reflected in augmented FDIs once the financial close is achieved. Furthermore, the project is expected to add USD 3-4 billion to the country’s total exports from 2026-27, supporting diversification of exports which should cushion the current account and help stabilize the Pak Rupee against external pressures.
The deal will allow Pakistan to receive more revenue once the project is operational. The total average revenue for the first ten years is likely to be $2.9 billion and is expected to increase to $3.7 billion after the completion of Phase 2.
As per the announcement by Prime Minister Imran Khan, Barrick Gold and Antofagasta have successfully ended a dispute on Reko Diq, which includes a penalty amount of $11 billion via World Bank arbitration.