Pakistan Minerals and Mining Updates

atmi_bum said:
Alas, you are right. I apologize for my error. Initial reports, including those on Pakistan television, said otherwise.
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You sit their obsessing over Pakistan and its soUrces and still manage to get it wrong. FFS Takes a special Indian to do that....
 
Bilal said:
It’s 1/10th of the total area of interest and that’s just one location. Barrick also showed interest in surrounding areas.
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Now Pakistani companies are investing in a big way. Tang Kaur is believed to be another Reko Diq size mine, final results expected this year.

"NRL, a 100% Pakistani privately owned company and a subsidiary of Fatima Fertilizer, Liberty Mills Limited, and Lucky Cement, was awarded a lease in October 2023.

The licensed area contained two known porphyry prospects with strong exploration potential.

Over the 15 months, NRL has identified 18 new prospects. One of these prospects, "Tang Kaur," has rapidly progressed to an advanced drilling stage."
mettisglobal.news

NRL discovers major copper-gold deposit in Chagai, Balochistan

National Resources Limited (NRL) has discovered significant copper-gold mineralization in Chagai, Balochistan...
mettisglobal.news mettisglobal.news
 
Fatman17 said:
search.app

Barrick reviews Reko Diq project

LONDON: Barrick Mining’s board is reviewing all aspects of a gold and copper project in Balochistan region,...
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Barrick reviews Reko Diq project
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Barrick isn’t pulling out at last second. Just as copper/gold price have more then doubled since they did last estimate of reserves in 2022.
 

Barrick reviews Reko Diq project​


Reuters
February 6, 2026

LONDON: Barrick Mining’s board is reviewing all aspects of a gold and copper project in Balochistan region, including capital allocation, CEO Mark Hill said during a post-earnings call.

The miner added the review of the Reko Diq project’s security arrangements, development timetable and capital budget would begin immediately, with an update once the process is completed.

The gold and copper project is owned 50 percent by Barrick, 25 percent by three federal state-owned enterprises and 25 percent by the Government of Balochistan.
 

Chinese firms, Pakistani groups secure mining leases as Reko Diq exports set to begin​


Monitoring Desk7 Feb 2026
Chinese companies and major Pakistani business groups have secured mining leases for copper, gold, and other minerals in Pakistan’s southwest, expanding activity beyond Canada’s Barrick Mining Corporation and signalling broader development of the sector, The Express Tribune reported, citing a senior port executive involved in export planning.

Sharique Azim Siddiqui, chief executive officer of Pakistan International Bulk Terminal Limited (PIBTL), said the terminal has been contracted to export minerals worth more than $5 billion in phases from the Reko Diq project, with additional mining ventures emerging across the mineral-rich belt of Balochistan.

He said Chinese firms and large Pakistani business houses have acquired mining leases in the region, while Reko Diq remains the most advanced project.

Last week, Reko Diq Mining Company, a subsidiary of Barrick, signed a port access agreement with PIBT to export copper and gold concentrate through Pakistan’s first dirty bulk cargo terminal at Port Qasim starting in 2028.

Located in Balochistan’s Chagai district, Reko Diq is one of the world’s largest undeveloped copper-gold deposits. Barrick holds a 50% stake in the project, while the federal government and the Balochistan government each own 25%.

Siddiqui said the mine is expected to begin operations by 2028 or 2029, with projected exports of between 800,000 and one million tonnes of concentrate annually.

Exports from the first phase are estimated at about $2.7 billion per year and are expected to rise to around $5 billion following expansion. Siddiqui said the initial $2.7 billion would come solely from Reko Diq, with volumes doubling in subsequent phases, making it a significant contributor to Pakistan’s export earnings.

Pakistan’s exports rose 4.5% to $32 billion last fiscal year but fell 7% year-on-year to $18.2 billion in the current fiscal year through January, while imports increased 9% to $40.2 billion, according to official data. Siddiqui said a single project generating $5 billion in exports would materially improve the country’s external position.

Under its agreement with PIBT, RDMC will invest $150 million to develop dedicated storage and handling facilities at the terminal as part of the project’s broader $7.7 billion investment. Construction of the port-side facilities is expected to begin within two months. PIBT, which started operations in 2017, was developed with $305 million in investment, including financing from the International Finance Corporation, and is listed on the Pakistan Stock Exchange.

Siddiqui said PIBT is also in talks with exporters of barite, rock phosphate, iron ore, and sand, adding that Reko Diq shipments are expected to set a benchmark for future mineral exports. He said the terminal remains open to partnerships with Gulf investors, particularly from the United Arab Emirates.

On security, Siddiqui said cargo protection would be ensured for mineral exports despite ongoing concerns in Balochistan. He said the government has committed to safeguarding cargo movement, noting that any disruption would harm both the projects and broader export ambitions.
 
It is a deal for gold and copper. Neither of which is a strategic mineral. Nevertheless, it is a good economic investment. Not sure who benefits how much.
 
hydrabadi_arab said:
New updated estimate for Reko diq phase 1 revenue is $6bn in 2028. Phase 2 will double the production in 2032.

We are probably talking about $15bn exports from Reko Diq alone from 2032 onwards looking at copper/gold price trend.
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Tell us who gets the $15 billion
 
@hydrabadi_arab

Hydro bro,

Not really. Production of copper is a fairly costly process. So, the profit element of the sale, while substantial, will not be the entire USD 15 billion.

Regards
 
CategoryDetailsAmount (USD)Recipient
Gross RevenueTotal Exports (Phase 2)$14.37 Billion--
1. Royalties5% of Revenue($718 Million)Govt of Balochistan
2. OpEx CostsMining & Processing($3.80 Billion)Vendors/Labor
3. Corp Taxes30% of Profit($2.95 Billion)Federal Govt
Net ProfitDistributable Cash$6.90 BillionShareholders
--------
Barrick Share50% Net Profit$3.45 BillionBarrick Gold
Federal Share25% Net Profit$1.72 BillionGovt of Pakistan (SOEs)
Provincial Share25% Net Profit$1.72 BillionGovt of Balochistan
 
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