Reko | Pakistan

Prime Minister Muhammad Shehbaz Sharif has directed to link Reko Diq with the railway network by 2028 to meet the requirements of future transportation and freight services.

Prime Minister Shehbaz Sharif on Tuesday directed relevant authorities to link the Reko Diq project in Balochistan with the Pakistan Railway’s line network by 2028 to meet the requirements of future transportation and cargo services. In January, Saudi Arabian mining fund Manara Minerals said it was set to buy a 10-20 per cent stake in the Reko Diq copper and gold project in Pakistan for proceeds of about $500 million to $1 billion. In April, the Reko Diq Joint Venture shareholders approved the project’s updated feasibility study and conditionally approved the associated Phase-1 development capital, subject to securing up to $3bn in project financing. While chairing a meeting today, PM Shehbaz issued orders for the formation of an inter-ministerial committee to look after financing matters for upgrading and developing Pakistan Railways. The committee will present recommendations regarding to financing required for Pakistan Railways’ development and its extension to Reko Diq. During the meeting, the prime minis...

The International Finance Corporation will provide financial assistance of 400 million dollars for Reko Diq project.

Minister of State for Petroleum, Ali Pervez Malik, on Thursday shared key details about the Reko Diq gold and copper mining project during a National Assembly session, revealing timelines, production targets, and financial benefits for Balochistan.

The financial closure of the Reko Diq copper-gold mining project is expected next month, with major international institutions likely to be part of the deal, sources revealed on Tuesday.