Pakistan is set to earn $53 billion over 37 years from the Reko Diq Copper-Gold project in Balochistan. The project will also create 7,500 employment opportunities for the local population.
Officials told the Senate Standing Committee on Petroleum that the Gold Project is expected to reach financial close next month. Construction is scheduled to begin in 2028, with the project planned in two phases.
Phase one of the $7.7 billion project requires $3.5 billion in financing, with estimated construction costs of $5.6–6 billion. Phase two, expected in 2032, will cost $3–3.6 billion. Once operational, annual production in phase one is projected at 260,000 tons of copper and 300,000 ounces of gold. Production will rise in phase two to 400,000 tons of copper and 500,000 ounces of gold per year.
The project is expected to generate a total cash flow of $70 billion. Revenue distribution will include $26 billion for the Balochistan government, $11 billion for the federal government, and $15 billion for three government agencies combined.
Beyond economic benefits, the Gold Project will provide significant community support. Plans include clean drinking water, upgrades to primary schools, and skills training programs. So far, 380 residents of Chagai district have completed vocational training, and 27 students have received scholarships to study abroad.
Officials emphasized there are no security concerns surrounding the project. International funding of $2.5 billion has been secured, with further discussions ongoing with the World Bank, Asian Development Bank, IFC, and the governments of the United States and Japan to finalize remaining financing.
In other related news also read Reko Diq Copper-Gold Mine Set to Generate $74 Billion Over 37 Years, Says Barrick Gold CEO
The Reko Diq Gold Project is expected to boost Pakistan’s economy, create thousands of jobs, and provide long-term social and infrastructure benefits to Balochistan’s communities.
