US Invests $1.3 Billion in Pakistan's Reko Diq Copper-Gold Mining Project
The United States is investing $1.3 billion in the Reko Diq copper-gold mining project in Pakistan's Balochistan province, a significant foreign investment. The project, developed by Barrick Gold in partnership with the Pakistan government, aims to tap into one of the world's largest undeveloped mineral deposits. Expected to produce 200,000 metric tons of copper annually by 2028, it will enhance Pakistan's mineral strategy and support local employment. The investment aligns with US efforts to secure critical mineral supply chains amid geopolitical tensions.
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The US has committed $1.3 billion to Pakistan's Reko Diq copper-gold mining project in Balochistan, a substantial foreign investment in a major undeveloped mineral deposit. The project, developed by Barrick Gold with local authorities, is projected to begin production by late 2028 and produce 200,000 metric tons of copper annually, with an estimated total yield value exceeding $60 billion.
The investment will be facilitated through the US Export-Import Bank and aims to enhance economic ties while addressing security challenges in the region, which has seen increased violence. The Reko Diq project is crucial for Pakistan's mineral strategy and local employment, with peak construction expected to create 7,500 jobs.
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