Pakistan is set to attract global players from around the world to invest in the untapped mining industry, particularly the Reko Diq project, expected to be the lifeline of the country.
Pakistan Minerals Investment Forum 2025 witnessed a strong global response on its second day as delegates from around the world gathered to explore potential of Pakistan’s untapped mining industry.
Canadian mining company, Barrick Gold, responsible for Reko Diq project is expected to gather $3 billion financing for the Reko Diq project.
According to details, the international company expects to secure financing for the ambitious Reko Diq project by the third quarter of this year.
World Bank is also expected to provide financing for the project, the first time it would fund a mining project.
“The Reko Diq project holds approximately 5.9 billion tonnes of mineral reserves, with feasibility studies confirming the presence of 15 million tonnes of copper and 26 million ounces of gold,” stated Russell Howard Owen, a representative of Reko Diq Mining Company.
According to Howar, the project would be 37 years long as the minerals in Reko Diq are spread over 286 square kilometres.
“Phase one of the project has received feasibility approval, and on-ground development is expected to begin this year. The project is expected to general approximately $70 billion in capital.”
The CEO of Barrick Gold stated that the first phase of the project to be completed by 2028 required $6bn. The half of this required amount would be arranged by Barrick (mining company) and Pakistan. While the other half $3 billion would be secured through international financiers.
According to details, the first phase of the project would also require massive electric supply through 150MW power plant to be run on heavy fuel oil (HFO).
Afterwards, another 150MW solar plant would be installed including electric supply from the national grid.
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