News Desk:
The Reko Diq copper-gold mining project has taken a major step forward with the approval of a $700 million loan by the International Finance Corporation (IFC) and the International Development Association (IDA), both arms of the World Bank Group. This financing is part of a broader effort by Reko Diq Mining Company (RDMC) to raise up to $3 billion in project financing to fund Phase 1 development of the world-class mining project.
Sponsored
The approval, granted during a joint IFC-IDA board meeting on June 12, 2025, signals strong international confidence in the Reko Diq project—considered one of the largest undeveloped copper and gold reserves globally.
Global Consortium Backs Reko Diq Development
RDMC is working with a consortium of international financial institutions, including:
- Asian Development Bank (ADB)
- US International Development Finance Corporation (DFC)
- Export-Import Bank of the United States (US EXIM)
- Export Development Canada (EDC)
- Euler Hermes AG and KfW IPEX-Bank GmbH (Germany)
- Exportkreditnämnden (EKN) (Sweden)
- Finnvera Oyi (Finnvera) (Finland)
- Plus a covered commercial bank tranche
The company expects to finalize project finance documents and begin loan drawdowns in the second half of 2025.
First Production Targeted for End of 2028
Despite the project’s complex financing structure, RDMC remains on schedule, with first copper and gold production expected by late 2028. Once operational, Reko Diq is set to transform Pakistan’s mineral sector, attract foreign direct investment (FDI), and contribute significantly to Balochistan’s economic growth through job creation, infrastructure upgrades, and revenue sharing.
Why It Matters
This development positions Reko Diq as a flagship project for sustainable mining and infrastructure development in Pakistan, reinforcing the country’s role in the global metals supply chain amid rising demand for critical minerals.
