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Articles for tag: Diq, Envoy, equipment, EXIM, funds, mining, Reko

December 12, 2025

News Desk

US Envoy Says Exim Funds $2B in Mining Equipment for Reko Diq

US Chargé d’Affaires Natalie A Baker speaks in this December 10, 2025 photo. — Screengrab via X/@usembislamabad Exim funding to boost Reko Diq businesses. The project is expected to create thousands of jobs. US sees model for future mining partnerships. ISLAMABAD: US Export-Import Bank (Exim) project financing will provide up to $2 billion in high-quality US mining equipment and services needed to build and operate the Reko Diq mine, the US Commissioner said on Monday. “I am pleased to highlight that the US Export-Import Bank recently approved $1.25 billion in financing to support the mining of critical minerals at Reko

November 28, 2025

News Desk

Global lenders secure $3.5bn debt package for Reko Diq

An image of the Tethyan Copper Company (TCC) gold and copper mine exploration project site at Reko Diq, Balochistan. — TCC Officials expect full financial closure by mid-December. IFC, ADB, JBIC and European ECAs commit project debt. RDMC pledges $390 million to upgrade ML-2 and ML-3. ISLAMABAD: In a major boost for Pakistan’s biggest mining project, half of the $3.5 billion debt required for the Reko Diq copper-gold project has been secured after the US Export-Import Bank (EXIM) approved a $1.25 billion facility. The News was mentioned. Officials now expect to achieve full financial close on the $7.7 billion venture

November 28, 2025

News Desk

The Reko Diq project is set to receive a $3.5 billion loan

Pakistan has already put forward a $1.9 billion financing plan to execute the Reko Diq copper and gold mining project. The total funding of the project has been estimated at 4.297 billion dollars. Photo: Archive Islamabad: Oil Minister Ali Pervaiz Malik said on Thursday that Reko Diq Mining Company was very close to financial closure with $3.5 billion in loans, as the company’s local arm promised to complete the $7 billion first phase of the project in the next three years. Reko Diq Mining Company is very close to achieving financial closure and raising $3.5 billion in debt, Malik said

November 27, 2025

News Desk

Barrick gives solid reassurance for Reko Diq after withdrawal reports

People visit a booth sponsored by Canadian miner Barrick Gold Corporation at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada, March 7, 2023. — Reuters Barrick clarifies after reports of possible break-up or asset sales. Safety and logistical challenges remain for the $7 billion project. Reko Diq is seen as a cornerstone of Pakistan’s mineral strategy. KARACHI: Barrick Mining Corp said it remains fully committed to the Reko Diq copper project in Pakistan, after reports suggested the company was considering pulling out of the venture, according to its interim chief executive. The $7 billion

November 25, 2025

News Desk

Barrick committed to Pakistan’s Reko Diq copper project, says interim CEO

Reko Diq added 13 million ounces to Barrick’s reserves and will produce up to 400,000 tonnes of copper annually Barrick Mining Corp remains committed to its Reko Diq copper mine in Pakistan, one of the world’s largest undeveloped deposits of the metal, its interim chief executive said on Tuesday after reports of a possible exit. The $7 billion project in Balochistan is being carried out in equal partnership between the company and the Pakistani authorities and is expected to start production by the end of 2028. Barrick’s board had raised the possibility of a break-up of the company’s assets, which

October 19, 2025

News Desk

Pakistan, IFC sign swap deal as Aurangzeb pushes for Reko Diq, EXIM talks

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and IFC Managing Director Makhtar Diop exchange greetings as State Bank of Pakistan Governor Jamil Ahmad and an IFC official sign an exchange agreement in Washington, DC on October 18, 2025. — X/@Financegovpk FinMin welcomes IFC’s move, naming Pakistan a regional hub. It vows to deepen cooperation with the IFC in key areas. Aurangzeb informs JP Morgan about sale of Panda Bond, First Women Bank. Finance Minister Senator Muhammad Aurangzeb, on the sixth and final day of his visit to the US, continued his engagements and witnessed the signing of a

September 30, 2025

News Desk

Finnish company to invest in Reko DIQ, in the mining sector

Islamabad: Federal oil minister Ali Pervaiz Malik met with a Finnish delegation led by Ambassador Hannu Ripatti, Piia Karhu, president of the minerals at Metso and Willie Eerola, the Honorary Consul of Pakistan in Finland, to discuss Pakistani in Finland, to discuss Pakistan Investments. According to an official statement issued on Monday, Malik said Pakistan had moved from primitive mining practices to mechanized, responsible mining. He noted that the government had informed the regulatory framework to make the sector worldwide competitive. He emphasized Reko DIQ as the “lens body” of the Pakistani mineral industry and assured full government support for

September 17, 2025

News Desk

Reko DIQ ensures over 5.5 billion dollars from IFIS

The hills near the Copper Mine Reko Diq in the Backedan. – Reuters/file Only the most favorable loan terms to be selected by the commitments. Reko DIQ predicted to produce $ 74 billion in free cash flow in 37 years. Employees who are confident in executing the project at the initial cost of $ 6.7 billion. Islamabad: Noting a basic discovery of Pakistan’s mining, Reko Diq Mining Company (RDMC) has secured more than $ 5.5 billion in funding commitments by international financial institutions (IFIS), surpassing the actual funding of $ 3.74 billion. $ 3.74 billion, $ 3.74 billion, $ 3.74

August 29, 2025

News Desk

Pakistan’s work Reko Diq Gold-Copper Mine ensures $ 410 million funding from ADB

A bulldozer operates in an open pit in Barrick Gold Corp’s Golden Veladero in Argentina. – Reuters/File The package includes $ 300 million on loans at Barrick Gold. Loans, funding guarantees to promote mines growth. The $ 6.6 billion project in Balochistan is 50% of Barrick. The Asian Development Bank (ADB) will provide a $ 410 million funding package to help develop Pako Diq Copper-Gold Mine’s project, one of the world’s largest unused deposits, which will operate by Barrick Gold, according to an official statement. “Reko Diq will help the Critical Minerals supply chain, while promoting the transition to clean

June 27, 2025

News Desk

R&D with the director of the work of Reko Diq Tim Cribb

Tim Cribb, Barrick Gold project manager for Pakistan’s Reko Diq, talks during an interview with Reuters at the Forum Investment Pakistan Minerals 2025, in Islamabad, in Pakistan on April 8th 2025. – Reuters As Pakistan’s Reko Diq project prepares to welcome some of the largest mining trucks they have ever brought to the country, they agree $ 440 million with Komatsu more than industrial expansion – marks a moment of transformation. From building technical capacity to women’s preparation at Nok Kundi for simulater -based truck training, the mine remodeles the landscape of the barcarist. In an exclusive interview with Geo

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