ISLAMABAD: The Reko Diq Copper Project is set to become a major economic driver for Pakistan. According to The News, it will contribute nearly 1% to the national GDP every year.
Dr. Tauqir Shah, senior advisor to the Prime Minister, confirmed the project’s global importance. He said the International Finance Corporation (IFC) will lead lending and oversee environmental and social standards.
The IFC and World Bank approved a $700 million concessional loan for the project just yesterday.
Dr. Shah stated the project will add up to $2 billion in gross value annually. All revenues will come in foreign currency, boosting Pakistan’s forex reserves.
The project is led by Reko Diq Mining Company (Private) Limited (RDMC). It will become one of the world’s largest copper mines.
Canada’s Barrick Gold Corporation owns 50% of RDMC. The remaining 50% is shared equally between three Pakistani state-owned firms and the Balochistan government.
Reko Diq holds one of the world’s biggest untapped copper reserves. The mine has a projected life of 40 years and will produce 200,000 to 250,000 tonnes of copper per year.
This output comes at a time when global demand for copper is rising. Clean energy growth and infrastructure projects are driving that demand.
Dr. Shah said the construction phase will create up to 10,000 jobs. Most of these will go to Baloch locals across skill levels.
Once operational, the mine will support 3,000 direct jobs. Thousands more will come through indirect and supply chain roles.
RDMC is investing in inclusive hiring. It has launched programs to increase female participation. So far, it has invested $2.5 million in local education, healthcare, clean water, and food security.
The company has pledged 1% of construction costs and 0.4% of annual revenue for community development during the mine’s life.
Power, water, and transport infrastructure are also being developed. Officials believe Reko Diq will attract more mineral exploration and regional investment.
Reko Diq stands as one of Pakistan’s most ambitious mining ventures. It aims to reshape Balochistan’s economy through responsible development.
International support and community engagement add strength to the project. Experts see it as a model for future resource development.
However, a senior official pointed to past failures. He said it was “a sad commentary on governance” that such a major resource lay unused for decades.
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“This is an epic story of poor decisions, incompetence, and misplaced judicial activism,” he added. “The country lost 30 to 40 years of potential progress.”
