ADB Approves $410 Million Support for Pakistan’s Reko Diq Mine, Boosting Economy and Minerals Supply
The Asian Development Bank (ADB) has approved a significant financial package totaling $410 million to support Pakistan’s Reko Diq copper-gold mine, marking the country’s largest foreign direct investment (FDI) to date. The support includes up to $300 million in loans and a $110 million guarantee aimed at accelerating development of this strategic mining project.
The Reko Diq mine, located in Pakistan’s Balochistan province, is one of the world’s largest untapped copper and gold deposits. Experts say the project will not only strengthen global critical minerals supply chains but also generate thousands of jobs, particularly in local communities, and contribute to the country’s long-term economic growth.
ADB highlighted that the investment aligns with Pakistan’s efforts to diversify its economy and promote sustainable, resource-based development. By ensuring responsible mining practices and environmental safeguards, the project is expected to foster sustainable growth while boosting the nation’s export potential.
The project is also anticipated to enhance Pakistan’s role in the global critical minerals market, which is increasingly important for industries like electronics, renewable energy, and electric vehicles. Analysts note that securing such large-scale FDI could encourage further international investment in Pakistan’s mining sector.
ADB’s support underscores its commitment to financing initiatives that drive economic development while prioritizing sustainability. For Pakistan, the Reko Diq project represents a major milestone in achieving industrial growth, energy security, and job creation in a strategic sector with long-term economic impact.
