Reko Diq’s $70B copper-gold reserve in Balochistan could transform Pakistan’s economy (photo-AI generated)
Pakistan Hidden Goldmine – Pakistan may be sitting on one of the world’s richest treasures and it’s not oil or gas. Deep beneath the rugged soil of Balochistan lies a massive deposit of copper and gold, known as the Reko Diq mine. With an estimated $70 billion in potential revenue, this project could be a game-changer for Pakistan’s struggling economy. But can the country turn this mineral jackpot into real progress?
What Is Reko Diq and Why Is It So Valuable?
Reko Diq is a small town in Balochistan, located in Pakistan’s mineral-rich Tethyan belt. Beneath its surface lies one of the world’s largest untapped copper and gold reserves. According to recent studies, the mine holds:
- 15 million tonnes of copper
- 26 million ounces of gold
These minerals are essential for modern industries from smartphones and electric vehicles to clean energy and data centers. With global demand for copper rising, Reko Diq could become a key supplier to international markets.
The project is being developed by Barrick Gold, a Canadian mining giant, which owns 50% of the venture. The remaining 50% is split between the Government of Pakistan and the Government of Balochistan, making it a rare example of public-private partnership in the mining sector.
Pakistan Hidden Goldmine – A $70 Billion Lifeline for Pakistan’s Economy
Pakistan’s economy has faced serious challenges in recent years—IMF bailouts, rising debt, inflation, and a weakening currency. The Reko Diq project offers a glimmer of hope.
Here’s what the mine could deliver:
- $70–74 billion in free cash flow over its 37-year lifespan
- 200,000 tonnes of copper annually in the first phase, doubling to 400,000 tonnes later
- Thousands of jobs during construction and operation
- Foreign investment from global banks and institutions
The Asian Development Bank (ADB) has already approved a $410 million financing package, including loans and guarantees. Other investors like the World Bank’s IFC, US Export-Import Bank, and Saudi Arabia’s Manara Minerals are also showing interest.
ADB President Masato Kanda called the project a “game-changer,” saying it will support clean energy, digital transformation, and economic resilience across the region.
Challenges Beneath the Surface: Security and Stability
Despite its promise, Reko Diq faces serious hurdles. The mine is located in Balochistan, a region known for political unrest and security threats. Violent protests, attacks on infrastructure, and local resistance have slowed progress in the past.
Legal disputes also delayed the project for years. It was only in 2022 that Pakistan resolved a long-standing conflict with previous investors, allowing Barrick Gold to move forward.
Now, the government must ensure:
- Safety for workers and equipment
- Fair treatment of local communities
- Transparent revenue sharing
- Environmental protection
Barrick Gold has launched training and social programs to prepare locals for long-term employment. But trust must be built, and benefits must reach the people of Balochistan not just the elite in Islamabad.
Can Pakistan Turn Minerals into Momentum?
Reko Diq is more than just a mine, it’s a test of Pakistan’s ability to manage large-scale development. If successful, it could:
- Attract more foreign investment in mining and rare earth exploration
- Boost exports and reduce reliance on loans
- Create jobs and infrastructure in remote areas
- Strengthen Pakistan’s global position in critical mineral supply chains
But failure to manage the project wisely could lead to wasted potential, corruption, and conflict.
The first phase of production is expected to begin by 2028, with expansion planned by 2034. If all goes well, the mine could operate beyond 2060, thanks to new exploration and technology upgrades.
For now, Pakistan’s biggest jackpot lies underground. Whether it becomes a national treasure or a missed opportunity depends on leadership, transparency, and the will to share the wealth.
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