Pakistan Minerals and Mining Updates

[RajaBaja]

NOTE; This Financing is ONLY limited to COPPER mine that already exists and just need to setup infrastructure and extraction. This phase I does NOT include Gold, Oil, Rare Earth minerals, etc. That extraction and infrastructure will be put in exclusively by the United States.

Also, like I've been saying, MARK your calendars. Year 2028 is when Pakistan will get closer to top 20 economies.

ADB approves $410mn financing package for Pakistan’s Reko Diq

• Reko Diq project marks biggest FDI in country’s history

The Asian Development Bank (ADB) approved a $410 million financing package to help develop Pakistan’s Reko Diq copper mine, one of the world’s largest untapped deposits, which will be operated by Barrick Gold.

The project will help meet rising global demand for critical minerals and unlock transformative economic development and poverty reduction in the nation, read a statement on Friday.

“Reko Diq will help the critical minerals supply chain, while advancing the clean energy transition and driving digital innovation across the region and beyond,” said ADB President Masato Kanda.

“ADB’s support is also a game-changer for Pakistan, creating quality jobs and underpinning the nation’s transition toward a more resilient and diversified economy.”

ADB is one of several agencies funding the first phase of Reko Diq, with a financing package which should help unlock greater private capital by derisking this investment.

“ADB’s contribution consists of up to $300 million in senior loans to the Reko Diq Mining Company Private Limited (RDMC), which owns the mine, and a $110 million partial credit guarantee to cover the equity component of the Government of Balochistan.

“Financing for the project will be the largest foreign direct investment in Pakistan’s history,” read the statement.

When fully complete, Reko Diq is expected to be the world’s fifth-largest copper mine.

ADB to provide $410 million package for Barrick-run Pakistan mine, sources say

In the first phase, the mine will produce on average 800,000 tons of copper concentrate per annum and play a key role in addressing the projected global copper shortfall.

Copper, a critical mineral for energy transition and digital transformation, is essential to the global production of renewable energy technologies, electric vehicles, batteries, smartphones, and data centres.

Located in the Chagai district of Balochistan—Pakistan’s least developed province—the Reko Diq copper-gold mine is expected to have a significant impact on the economy.

RDMC is a joint venture designed to ensure equitable benefit-sharing. Barrick Mining Corporation, which will build and operate the mine, owns 50% of RDMC; the Government of Balochistan (through Balochistan Mineral Reserve Limited) owns 25%; and three federal state-owned enterprises together own 25%.

ADB said that Reko Diq is the first mining project supported by the multilateral lender under its new Critical Minerals-to-Manufacturing Value Chains approach, designed to help Asia and the Pacific capitalise on rising demand for materials essential to clean energy and digital technologies.

The approval by ADB’s Board of Directors authorises ADB to proceed with finalising the loan documentation and other requirements before the financing can be formally committed through signed agreements at a later date.


@Hakikat ve Hikmet @r3alist @TopGun786 @SoulSpokesman @Raj-Hindustani @PAKISTANFOREVER @PK781
Your opinions please

 

[RajaBaja]

@Fatman17 Please don't merge this thread with any other thread. I plan on using this one thread to cover all Mineral, Oil, Gas related news, investments and results. Thank you.

 

[PAKISTANFOREVER]

NOTE; This Financing is ONLY limited to COPPER mine that already exists and just need to setup infrastructure and extraction. This phase I does NOT include Gold, Oil, Rare Earth minerals, etc. That extraction and infrastructure will be put in exclusively by the United States.
Also, like I've been saying, MARK your calendars. Year 2028 is when Pakistan will get closer to top 20 economies.

ADB approves $410mn financing package for Pakistan’s Reko Diq

• Reko Diq project marks biggest FDI in country’s history

The Asian Development Bank (ADB) approved a $410 million financing package to help develop Pakistan’s Reko Diq copper mine, one of the world’s largest untapped deposits, which will be operated by Barrick Gold.

The project will help meet rising global demand for critical minerals and unlock transformative economic development and poverty reduction in the nation, read a statement on Friday.

“Reko Diq will help the critical minerals supply chain, while advancing the clean energy transition and driving digital innovation across the region and beyond,” said ADB President Masato Kanda.

“ADB’s support is also a game-changer for Pakistan, creating quality jobs and underpinning the nation’s transition toward a more resilient and diversified economy.”

ADB is one of several agencies funding the first phase of Reko Diq, with a financing package which should help unlock greater private capital by derisking this investment.

“ADB’s contribution consists of up to $300 million in senior loans to the Reko Diq Mining Company Private Limited (RDMC), which owns the mine, and a $110 million partial credit guarantee to cover the equity component of the Government of Balochistan.

“Financing for the project will be the largest foreign direct investment in Pakistan’s history,” read the statement.

When fully complete, Reko Diq is expected to be the world’s fifth-largest copper mine.

ADB to provide $410 million package for Barrick-run Pakistan mine, sources say

In the first phase, the mine will produce on average 800,000 tons of copper concentrate per annum and play a key role in addressing the projected global copper shortfall.

Copper, a critical mineral for energy transition and digital transformation, is essential to the global production of renewable energy technologies, electric vehicles, batteries, smartphones, and data centres.

Located in the Chagai district of Balochistan—Pakistan’s least developed province—the Reko Diq copper-gold mine is expected to have a significant impact on the economy.

RDMC is a joint venture designed to ensure equitable benefit-sharing. Barrick Mining Corporation, which will build and operate the mine, owns 50% of RDMC; the Government of Balochistan (through Balochistan Mineral Reserve Limited) owns 25%; and three federal state-owned enterprises together own 25%.

ADB said that Reko Diq is the first mining project supported by the multilateral lender under its new Critical Minerals-to-Manufacturing Value Chains approach, designed to help Asia and the Pacific capitalise on rising demand for materials essential to clean energy and digital technologies.

The approval by ADB’s Board of Directors authorises ADB to proceed with finalising the loan documentation and other requirements before the financing can be formally committed through signed agreements at a later date.


@Hakikat ve Hikmet @r3alist @TopGun786 @SoulSpokesman @Raj-Hindustani @PAKISTANFOREVER @PK781
Your opinions please

I hope it comes true Inshallah.

 

[Fatman17]

@Fatman17 Please don't merge this thread with any other thread. I plan on using this one thread to cover all Mineral, Oil, Gas related news, investments and results. Thank you.

It is a sticky now

 

[RajaBaja]

In May 2025, the Government of Pakistan revised its estimate of the country’s untapped mineral reserves to $8 trillion — placing Balochistan among the most resource-rich regions in the world.

Global Attention on Reko Diq ​

Located in Balochistan’s remote Chagai district, Reko Diq is one of the world’s largest undeveloped copper and gold deposits. Dormant for years due to legal and contractual disputes, the project entered a new era in 2022, when the Government of Balochistan finalised an agreement with Barrick Gold Corporation.

• Under the agreement:
• Barrick Gold holds a 50% stake
• Pakistan’s federal entities retain 25%
• The Government of Balochistan holds 25%, including fully funded and free-carried shares

The scale of commitment is significant. $10 billion in investment has been pledged, with production formally scheduled to begin in 2028.

Over $100 billion in tax revenue is expected to be generated, and 77% of current project employees are from Balochistan. Investments in education, clean water, and community development are already underway.

This is not speculation — it’s implementation.

The scale of commitment is significant. $10 billion in investment has been pledged, with production formally scheduled to begin in 2028. Over $100 billion in tax revenue is expected to be generated, and 77% of current project employees are from Balochistan. Investments in education, clean water, and community development are already underway.

This is not speculation — it’s implementation.

Why Gwadar Matters in the Mineral Economy​

Though Reko Diq is over 600 kilometres inland, no resource economy functions in isolation. Extraction alone is not enough — movement, processing, and export complete the value chain.

That’s where Gwadar comes in.

A proposed rail corridor will connect Chagai to Gwadar’s deep-sea port, streamlining the transport of high-value commodities from the interior to the global market. In parallel, a copper smelter is being planned within Gwadar, with an annual processing capacity of 50,000 to 80,000 tonnes. This marks a decisive shift — not only will Pakistan extract value from its minerals, it will retain and refine it locally.

Gwadar is becoming more than a port city. It’s being positioned as the industrial and logistics engine of Pakistan’s mineral future.

 

[r3alist]

The additional financing is a positive development, though there are many challenges given the region and prior history

 

[RajaBaja]

An old map based on identified minerals. This was based on 2017's research, scanning and geographical testing and sampling. The new map published this year has many new sites, including Oil and Gold.

 

[SoulSpokesman]

Good work by GOP and PM Shahbaz Sharif.

Regards

 

[Solomon2]

• Pakistan’s federal entities retain 25%

What are the "Pakistan's federal entities", exactly?

 

[RajaBaja]

What are the "Pakistan's federal entities", exactly?

Islamabad aka. the Federal Government.

 

[ghazi52]

ADB to give $410m for Barrick-run Reko Diq​

Reuters
August 22, 2025



Reko Diq, delayed for years by a legal dispute that was settled in 2022, will produce 200,000 tonnes of copper annually. —Reuters

ISLAMABAD: The Asian Development Bank will provide a $410 million financing package to help develop Pakistan’s Reko Diq copper mine, one of the world’s largest untapped deposits, which will be operated by Barrick Gold , two sources told Reuters on Thursday.

Islamabad hopes the project will serve as a springboard to draw more foreign interest to its mineral sector, particularly to exploit rare earth deposits. Pakistan has already attracted interest from the Trump administration and offered future concessions to US companies.

The loans and a financing guarantee will support development of Reko Diq, which is expected to produce copper and gold from 2028 and generate about $70 billion in free cash flow over its lifespan.

The financing is composed of two loans totalling $300m to Barrick and a $110m financing guarantee for the Government of Pakistan, both sources said ahead of the official announcement.

The $6.6bn project in Balochistan is 50pc owned by Barrick with the other half held by the federal and provincial governments.

ADB, the petroleum ministry and Barrick did not immediately respond to requests for comment.

The project aims to raise upwards of $2bn and has a previous agreement for $700m in financing from the International Finance Corporation, the World Bank’s private investment arm.

The project’s developers are in talks with other prospective financiers, including the US Export-Import Bank, Export Development Canada and Japans JBIC and expect to sign term sheets this quarter, project director Tim Cribb told Reuters in April.

Published in Dawn, August 22th, 2025

 

[RajaBaja]

Mineral wealth stands at $8tr | The Express Tribune

Govt engages investors to extract reserves, plans conference for next month

tribune.com.pk

Mineral wealth stands at $8tr​

Govt engages investors to extract reserves, plans conference for next month

---

ISLAMABAD:
The government is stepping up efforts to exploit Pakistan's huge mineral wealth potential, estimated at $8 trillion, by engaging both local and foreign investors in different projects.

It has planned to hold a mineral conference next month to showcase the country's mineral wealth in front of investors.

At a recent briefing to the federal cabinet, it was informed that Pakistan had a mineral wealth of around $8 trillion. Earlier, the potential had been estimated at $6 trillion. The mineral sector employs a workforce of 300,000 and contributes 1% to the gross domestic product (GDP).

The cabinet was briefed about the presence of major minerals and the areas where those reserves were in abundance. To extract the resources, numerous projects are underway, primarily in Balochistan.

Community development schemes and skill development initiatives are also being undertaken for the benefit of the people of Balochistan.

Among the mineral sector projects, Reko Diq copper and gold mining is a key project, which is expected to become operational by 2028. Estimates suggest that it will generate a cash flow of $74 billion.

The Reko Diq project, revived by Canada's Barrick Gold, is forecast to start producing copper and gold by 2028, with an initial investment of $5.5 billion. Barrick Gold holds a 50% stake and the reserves are expected to generate $74 billion in free cash flow over 37 years, based on long-term prices.


Saudi Arabian mining company Manara Minerals will acquire a 15% stake in the project, with potential investment of $1 billion. Pakistan's mining sector is increasingly attracting foreign investment as global firms eye the country's untapped mineral deposits.

The Reko Diq project, located in Balochistan's Chagai district, has the world's largest untapped copper reserves. The mine is anticipated to generate $2.8 billion in annual exports while creating thousands of jobs and transforming the local economy.

 

[ghazi52]

QUETTA: Reko-Diq Mining Company (RDMC) has paid more than $17.5m in royalties to the Balochistan government, its officials said on Thursday.

The details were shared during a media briefing on the Reko-Diq project’s progress.

Communications Manager Samia Ali Shah said payments tallied as of June 2025 include $17.5m in royalties to the Balochistan government and nearly $3.8m to the federal government on account of employees and others parties’ income taxes collected by the company.

Ms Shah explained that the Balochistan government holds a 25 per cent partnership in the project without making any direct investment. The overall venture is a 50-50 partnership between the government of Pakistan and RDMC.

The briefing also highlighted the company’s efforts in local workforce development.

Present at the event were trainees who had just returned to Pakistan after completing 18 months of training in Argentina, sponsored by the company.

“The young talent going for training abroad comprises 14pc females,” Ms Shah said, adding the project has long-term benefits for the region.

 

[ghazi52]

Study confirms over $60bn copper and gold reserves at Reko Diq​

Khaleeq Kiani

THE Reko Diq project is expected to yield 13.1 million tonnes of copper and 17.9 million ounces of gold over the 37-year life of the mine.—Reuters

ISLAMABAD: As a formal feasibility study confirmed more than $60 billion worth of copper and gold reserves at the Reko Diq project in Balochistan at prevailing prices, three state-owned energy sisters have more than doubled their funding commitment close to $1.9bn.

Three SOEs — Oil and Gas Development Company Ltd (OGDCL), Pakistan Petroleum Ltd (PPL) and Government Holdings (Pvt) Ltd (GHPL) — had originally committed about $300 million each to the project that has now been increased to $627m each. The trio’s total funding has thus increased to about $1.88bn from about $900m initially planned, informed sources told Dawn.

“Based on existing reserves, the Reko Diq project is expected to yield production of 13.1 million tonnes of copper and 17.9 million ounces of gold over the life of the mine (100pc basis),” announced the state-run OGDCL.

The feasibility study has also confirmed a lucrative 25pc rate of return on investment on one of the biggest copper-gold project, informed sources said, adding that the project operations would be run entirely on solar energy, thus becoming the only green project of the sort so far across the globe.

 

[ghazi52]

Under the updated feasibility study,

Phase 1 is planned to process 45 million tonnes of mill feed annually (Mtpa) from 2028. Previously, it was estimated to be close to 40m tonnes. By 2034,
Phase 2 is planned to double the processing capacity to 90Mtpa, the OGDCL said.

The updated feasibility study outlines a mine life of 37 years, divided into two phases. Phase 1 of the project entails an estimated capital outlay of $5.6bn (exclusive of financing costs and inflation) and is expected to commence operations in 2028.

A limited-recourse project financing facility of up to $3bn is being pursued, with the remainder to be funded through shareholder contributions, OGDCL said, adding that negotiations for the project financing were ongoing.

The project will leverage five of the currently identified 15 porphyry surface expressions within the current mining lease, highlighting substantial future growth potential. Phase 2 is planned to be funded through a mix of revenue generation from the project, additional project financing and shareholder contributions (if required).

In light of these developments, the OGDCL’s board of directors has approved an increase in the company’s funding commitment to $627m, inclusive of project financing costs, reflecting its proportional share of total capital investment, the company announced.

This increase accounts for the estimated rise in copper and gold prices, which have helped offset higher project costs. The shareholder equity contributions by the Company after taking into account project financing are expected to be $349m, to be adjusted for actual project financing costs and inflation, the OGDCL said.

In a similar announcement, PPL also reported that its board of directors had approved increase in its funding commitment to the project, reflecting its pro rata share of total capital investment to $627m. The board “has also given an in-principle approval to obtain project financing”, it said adding that the shareholder equity contributions by the company after taking into account project financing are expected to be $349m.

Informed sources said a similar decision had also been taken by the GHPL.

OGDCL announces “the completion of the updated feasibility study for the Reko Diq Project, marking a significant milestone in Pakistan’s journey toward unlocking one of the world’s largest undeveloped copper-gold resources. OGDCL holds an 8.33pc share in the project as part of a collective 25pc stake held by three Pakistani SOEs, including PPL and GHPL.

The SOEs’ interest is managed through Pakistan Minerals (Private) Ltd. Of the remaining share, 25pc is held by the Government of Balochistan (15pc on a fully funded basis through Balochistan Mineral Resources Ltd and 10pc on a free carried basis) and 50pc is held by Barrick Gold Corporation, which is the operator of the project.