First Phase of Development Fund for Reko Diq Project Approved, Marking Major Milestone
ISLAMABAD — In a significant step forward for Pakistan’s mining sector, the first phase of the development fund for the Reko Diq project has officially been approved. This marks the beginning of a new era of practical progress for one of the country’s most promising mineral ventures.
The advancement of the Reko Diq project comes with the strong backing of the Special Investment Facilitation Council (SIFC), reflecting a strategic move to enhance economic growth and attract foreign investment.
With a projected free cash flow of $74 billion, the project is set to become a game changer for Pakistan’s economy, offering substantial returns and long-term development benefits. It is expected to generate over 11,000 employment and construction opportunities for local communities, contributing to sustainable socio-economic uplift in the region.
As part of its growth plan, the annual processing capacity of the project will be doubled from 45 million tons to 90 million tons by 2034, ensuring increased output and efficiency.
The joint venture between Barrick Gold Corporation, the Government of Pakistan, and the Government of Balochistan underscores a commitment to transparency, international standards, and long-term project sustainability.
The recently held Pakistan Minerals Investment Forum 2025 in Islamabad also highlighted the significance of Reko Diq and other mineral-rich regions of the country. The forum attracted the attention of global investors and industry experts, positioning Pakistan as a rising destination for modern mining development powered by cutting-edge technology and global partnerships.
This latest progress signals a bright future for Pakistan’s mineral sector, with the Reko Diq project playing a pivotal role in unlocking the country’s natural resource potential.
