ISLAMABAD: US Chargé d’Affaires Natalie A. Baker has stated that the Reko Diq project in Balochistan offers significant economic potential for both Pakistan and American businesses.
Speaking during a recent briefing, she remarked that the project could open up export opportunities worth $1 billion for US companies.
She emphasized that such initiatives represent strong investment potential in Pakistan’s mining sector and align with America’s goals for sustainable and transparent economic cooperation.
Baker added that the United States supports investment models that ensure local benefits, job creation, and long-term development.
She called the Reko Diq mining project a symbol of trust and opportunity between international investors and the Pakistani government.
Reko Diq, located in Balochistan’s Chagai district, is considered one of the largest untapped copper and gold deposits in the world.
The site contains an estimated 5.9 billion tonnes of ore, making it a globally significant resource for both copper and gold extraction.
Initially explored by Tethyan Copper Company (TCC) — a joint venture between Barrick Gold Corporation and Antofagasta PLC — the project stalled for several years due to legal disputes.
However, after a long arbitration battle, a new deal was signed in 2022, enabling Barrick Gold to resume work in partnership with the Pakistani government.
Under the current agreement, Barrick Gold owns 50% of the project, with the remaining share held by the Government of Pakistan and the Government of Balochistan.
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The development is expected to bring substantial foreign investment, thousands of new jobs, and long-term revenue, marking a turning point for the region’s economic growth.
