Pakistan’s ambitious Reko Diq mining project has just achieved a massive milestone. The Reko Diq Mining Company (RDMC) announced on September 16, 2025, that it secured over $5.5 billion in financing commitments from international financial institutions.

Reko Diq, located in Balochistan’s Chagai district, ranks among the world’s largest undeveloped copper and gold deposits. Barrick Gold Corporation owns 50% of the project, while the remaining 50% is split between Pakistan’s federal government and Balochistan province—with the province holding 25%, including 10% on a free carried basis and 15% fully funded by the federal side.

Key contributors include the US Export-Import Bank, which pledged around $1 billion, and the Japan Bank for International Cooperation with $300 million. The Asian Development Bank (ADB) also stepped in with $300 million – marking its first investment in Pakistan’s mining sector in over 40 years – plus a $110 million credit guarantee to bolster Balochistan’s equity. Additionally, Denmark’s export credit agency offers guarantees for equipment and bank financing.

Beyond the core funding, RDMC commits $400 million in bridge financing to upgrade railway infrastructure. This investment connects the mine site to Port Qasim via Main Line-2 and Main Line-3, ensuring efficient mineral transport. Importantly, construction crews aim to complete these upgrades before operations launch in 2028.

Overall, Reko Diq’s $5.5 billion financing breakthrough signals optimism for Pakistan. It fosters job creation, boosts exports, and attracts foreign investment. However, challenges like geopolitical tensions and environmental concerns persist, yet stakeholders focus on sustainable development.

Looking ahead, financial closure remains on the horizon. Experts anticipate finalizing deals by late September or early October 2025. This timeline aligns perfectly with ongoing preparations, so the project stays on track for its 2028 startup. Moreover, the surge in commitments – building on earlier pledges like the International Finance Corporation’s $2.5 billion in April 2025 – underscores growing confidence in Pakistan’s resource sector. In fact, previous efforts, such as Barrick’s pitch for $3.5 billion in August 2025, laid the groundwork for this success.