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

• 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 Diq in Pakistan,” Natalie A Baker said in a video statement to X.

According to her, the approved funding will help facilitate equipment and services for the project “for years to come,” creating approximately 6,000 jobs in the United States and 7,500 jobs in Balochistan.

He said the Reko Diq mine “serves as a model for mining projects that will benefit US exporters, as well as local communities and Pakistani partners.”

Baker said the initiative is in line with the Trump administration’s approach to emphasize trade partnerships. “The Trump administration has made deal-making just like this at the heart of American diplomacy,” he noted.

He added that Washington looked forward to further agreements between US companies and their Pakistani counterparts in the critical minerals and mining sector, describing the project as one that aims to “bring employment and prosperity to both our nations”.

The US diplomat’s remarks come weeks after US Exim announced plans to invest in the country’s critical mineral projects as Washington aims to increase its energy production.

In an interview with Financial Times in an interview published on November 23, Exim chairman John Yovanovitch said the agency’s deals included a $1.25 billion loan for the Reko Diq mine.

The announcement is part of a $100 billion investment plan to secure US and allied supply chains for critical minerals, nuclear power and liquefied natural gas.