ISLAMABAD, July 21, 2025 — The Asian Development Bank (ADB) will provide a $410 million financing package for the development of Pakistan’s Reko Diq copper-gold mine, sources confirmed. This includes $300 million in loans to Barrick Gold and a $110 million guarantee for the Pakistani government. The long-delayed project in Balochistan, valued at $6.6 billion, is set to begin production by 2028, with expected annual output of 200,000 metric tonnes of copper, potentially doubling in a later phase. It is projected to generate roughly $70 billion in free cash flow over its estimated 37-year lifespan.
This funding comes after a prolonged legal settlement and could pave the way for further investments from institutions like the U.S. Export-Import Bank and the IFC. The project is being closely watched as a key driver of Pakistan’s foreign investment appeal in its mineral-rich regions.
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