The Oil and Gas Development Company Limited (OGDCL) has greenlit an additional $627 million investment for the expansion of Pakistan’s Reko Diq Project, a move expected to significantly boost the country’s mining sector and economy.
The investment aims to accelerate the development of mining operations, with a target of reaching an annual production of 45 million tons by 2028, and doubling that to 90 million tons by 2034. The project is poised to yield substantial quantities of copper and gold, estimated at 13.1 million tons and 17.9 million ounces respectively, which is anticipated to bolster foreign reserves and decrease import reliance.
Facilitated by the special investment facilitation council (SIFC), this increased funding will not only stimulate economic growth in Balochistan but also enhance local employment opportunities. Furthermore, the upcoming Pakistan Minerals Investment Forum 2025 will serve as a platform for global investors and feature a mineral exhibition with leading international companies, further spotlighting the country’s advancements in the mineral sector.
The development of Reko Diq is set to enhance Pakistan’s standing on the global stage as a significant player in the mineral industry, benefiting the local population and the national economy.