ISLAMABAD: Pakistan and Canada are exploring deeper cooperation in the minerals and energy sectors. Islamabad is stepping up efforts to revive long-delayed mining projects, including the Reko Diq project, the information ministry said this week.
Reko Diq is one of the world’s largest undeveloped mineral deposits. It holds an estimated 5.9 billion tons of ore containing copper and gold. The project sits in Balochistan’s Chagai district.
Legal disputes stalled the project for more than a decade. Pakistan restructured it in 2022. Canada’s Barrick Gold now holds a 50 percent stake, alongside Pakistani federal and provincial partners.
The project has moved closer to implementation. Pakistan has secured multilateral financing from international banks and institutions. Authorities have also signed major equipment contracts.
These include a $440 million deal with Japan’s Komatsu for mining machinery. The agreement signals preparation for construction work starting in 2026.
Last month, Washington approved $1.25 billion in financing through the U.S. Export-Import Bank for Reko Diq copper-gold mine. Officials say the package could unlock up to $2 billion in U.S. equipment and service exports linked to the project.
Pakistan expects first production by late 2028. Estimates point to annual output of around 200,000 tons of copper, along with significant gold production, once operations reach scale.
Islamabad sees large-scale mining as a pillar of economic recovery. The government is hosting mineral investment forums, courting Western and Gulf partners, and signing agreements on critical minerals, including with the United States. Officials say mining could boost exports, earn foreign exchange, and create jobs as the country faces debt pressure and slow growth.
Against this backdrop, Federal Petroleum Minister Ali Pervaiz Malik met Canada’s High Commissioner to Pakistan, Tarik Ali Khan, on Wednesday. They discussed expanding cooperation in mining and energy.
“The success of Barrick Gold at Reko Diq is a strong example to build upon Pakistan–Canada mineral cooperation,” the high commissioner said, according to the statement.
He said Canada is encouraging more Canadian companies to enter Pakistan’s mining sector. He added that Canada’s natural resources ministry is ready to support cooperation.
The envoy highlighted Canadian expertise in large-scale mining, environmental standards, and community development. He said this experience could support Pakistan as it opens its mineral sector.
He also said Canada is encouraging participation in the Pakistan Minerals Investment Forum to attract global investors.
The high commissioner invited Pakistan to attend the Prospectors & Developers Association of Canada convention in 2026. He called it a key platform to showcase Pakistan’s mineral potential to international investors.
Also Read: Pakistan Bulk Terminal Signs Deal to Ship Reko Diq Mineral Exports
Minister Malik welcomed Canadian interest. He said technical expertise and intellectual capital would strengthen Pakistan’s systems and build investor confidence, especially among international mining firms.
Both sides also discussed cooperation in the energy sector. Canada offered technical assistance, the statement said.
