Reko Diq Mining Company (RDMC) has secured over $5.5 billion in financing commitments from global financial institutions, surpassing its $3.74 billion funding need for the massive copper and gold venture in Balochistan’s Chagai district.
The $7.48 billion project, structured on a 50:50 debt-to-equity ratio, is slated to begin construction in December 2025, with commercial production expected by 2028. Major pledges include $1 billion from the US Export-Import Bank, $300 million from the Japan Bank for International Cooperation, and guarantees from Denmark’s export credit agency. Officials say only the most favorable terms will be finalized, with financial closure anticipated by late September or early October 2025.
To support logistics, RDMC has arranged $400 million in bridge financing for railway upgrades connecting the mine to Port Qasim, deemed vital for efficient mineral transport.
Over its 37-year life, the project is projected to generate $74 billion in free cash flows, making it a cornerstone of Pakistan’s long-term economic strategy. The Boards of OGDCL, PPL, and GHPL have already approved $715 million, keeping the project on track within cost estimates.
RDMC is a joint venture between Barrick Gold (50%) and the governments of Pakistan and Balochistan (50%), ensuring provincial participation without financial risk.
The project has also drawn major support from IFC ($700 million), including a $400 million subordinated loan, and the Asian Development Bank, which has pledged $300 million plus a $110 million guarantee—its first mining-sector investment in over four decades.
In last development, Pakistan Secured $700M World Bank Loan for Reko Diq
