ISLAMABAD: Reko Diq Mining Company (RDMC) has secured over $5.5 billion in financing commitments from global financial institutions. The pledges surpass the $3.74 billion debt requirement for the multibillion-dollar copper and gold mining project in Balochistan’s Chagai district.
Construction Timeline Set
The $7.48 billion project is structured on a 50:50 debt-to-equity ratio. Construction is scheduled to begin in December 2025. Commercial operations are targeted for 2028, making Reko Diq one of Pakistan’s most ambitious industrial undertakings.
Key Global Lenders Onboard
The US Export-Import Bank has pledged around $1 billion in support. The Japan Bank for International Cooperation will provide $300 million. Denmark’s export credit agency has offered guarantees to facilitate bank financing and equipment procurement. These commitments reportedly carry more favorable terms than standard commercial loans.
Bridge Financing for Infrastructure
RDMC has arranged $400 million in bridge financing to upgrade railway links from the mine site to Port Qasim. The work will focus on Main Line-2 and Main Line-3. Officials expect the railway to be ready before the mine starts operations. Efficient transport of extracted minerals is seen as critical to project success.
Economic Potential and Shareholder Support
Over its 37-year lifespan, Reko Diq is expected to generate $74 billion in free cash flows. The Boards of Oil and Gas Development Company Limited, Pakistan Petroleum Limited, and Government Holdings (Private) Limited have already approved $715 million in funding. Strict cost controls aim to keep the project within the earlier $6.765 billion estimate.
Financial Closure Approaching
Officials expect financial closure by late September or early October 2025. With funding secured, RDMC remains confident in delivering Pakistan’s flagship mining project on schedule.
China says TikTok is a win-win deal
hina on Wednesday praised the framework deal reached in Madrid to transfer TikTok’s US assets to American ownership. State media described the agreement as a “win-win” outcome. The People’s Daily editorial stressed that the deal reflected principles of mutual respect, peaceful coexistence, and cooperation.
Leaders to Confirm Agreement
Investors now await a scheduled call between US President Donald Trump and Chinese President Xi Jinping on Friday. The conversation is expected to confirm the agreement and set the stage for further trade discussions.
