ISLAMABAD: Despite facing multifaceted challenges in Balochistan, the Reko Diq copper-gold mining project continues to stand at the forefront of Pakistan’s push to develop its vast mineral resources.
The multibillion-dollar venture remains active and on track, with both domestic and international stakeholders expressing confidence that commercial production will commence as scheduled in 2028.
Barrick Gold, the Canadian operator holding a 50 percent stake in the Reko Diq Mining Company, described its ongoing review of the project as a routine process tied to mandatory disclosures under Canadian securities laws, and declined to provide further details.
An insider dismissed recent speculation surrounding the review and reports of a $1.3 billion loan from the US Export-Import Bank, characterizing both as standard regulatory reporting designed to keep investors informed.
The US financing facility was actually approved back in December 2025 and has only recently been publicly reiterated as part of ongoing capital-raising efforts for the massive project.
A mining executive noted that while the underlying agreement may not be flawless, its effective execution could significantly boost investor confidence and draw substantial foreign investment into Pakistan’s mining sector.
Optimism persists in private mining circles as well as among officials in Islamabad and Quetta, though they acknowledge growing political alienation and heightened security concerns in Balochistan that could pose risks.
Early interest from several Pakistani mining firms has waned somewhat due to the project’s estimated costs nearly doubling over time.
Amid opposition from certain Baloch leaders who view the project as an encroachment on provincial rights, meaningful engagement with local stakeholders remains essential.
The ultimate success of Reko Diq is inextricably linked to the province and its people, underscoring the need for inclusive dialogue to ensure long-term viability and shared benefits.
