Pakistan is preparing for a major economic breakthrough as the Reko Diq Copper-Gold Project in Balochistan moves closer to financial close. This flagship mining venture is expected to generate $53 billion in national revenue over 37 years and create 7,500 jobs for local communities. The scale of the project positions it among the most significant economic developments in the country’s history.
Officials shared that the financial close is expected next month. Construction is planned to begin in 2028. This timeline marks a pivotal step for the project, which has already secured international interest and funding commitments.
The project will be developed in two phases. The first phase of this $7.7 billion initiative requires $3.5 billion in financing. Construction costs are estimated between $5.6 billion and $6 billion. During this phase, annual production is expected to reach 260,000 tons of copper and 300,000 ounces of gold. These figures highlight the project’s massive resource potential.
Phase two will start in 2032. It is projected to cost between $3 billion and $3.6 billion. Once the second phase becomes operational, annual output will increase significantly. Production will rise to 400,000 tons of copper and 500,000 ounces of gold. This expansion strengthens Pakistan’s position in global mineral markets.
The project’s financial benefits will be distributed across multiple entities. Total cash flow is projected at $70 billion. The Balochistan government will receive $26 billion. The federal government is set to earn $11 billion, while three national agencies will collectively receive $15 billion. These allocations show the project’s long-term value for both provincial and federal stakeholders.
Reko Diq is also designed to uplift local communities. The initiative includes plans for clean drinking water, improved primary schools, and skills development programs. These efforts aim to raise living standards in the region. Additionally, 380 residents from the Chagai district have already completed vocational training. Twenty-seven students have been awarded scholarships for international study. These steps show a wider commitment to inclusive and sustainable growth.
Officials stated that there are no security concerns linked to the project. This reassures investors and strengthens confidence in future operations. International financing of $2.5 billion has already been secured. Ongoing discussions with major institutions, including the World Bank, Asian Development Bank, IFC, and the governments of the United States and Japan, will help close the remaining funding gap.
The Reko Diq Copper-Gold Project is expected to reshape Balochistan’s economic landscape. It will also provide long-term opportunities for Pakistan’s mining sector and broader national economy. As groundwork accelerates, anticipation continues to grow around one of the most promising ventures in the country.
