Pakistan’s Largest Gold Mining Project Set to Generate 7,500 Jobs and $53 Billion Investment

Pakistan is poised to earn $53 billion over the next 37 years from the Reko Diq Copper-Gold project in Balochistan, which is also expected to create 7,500 local jobs. Officials informed the Senate Standing Committee on Petroleum that the project’s financial close is anticipated next month, with construction set to begin in 2028.

The $7.7 billion mega project will be completed in two phases. Phase one requires $3.5 billion in financing, with construction costs estimated at $5.6–6 billion, and is projected to produce 260,000 tons of copper and 300,000 ounces of gold annually. Phase two, planned for 2032, will cost $3–3.6 billion and increase annual output to 400,000 tons of copper and 500,000 ounces of gold. Overall, the project is expected to generate a total cash flow of $70 billion, with the Balochistan government receiving $26 billion, the federal government $11 billion, and three government agencies collectively earning $15 billion.

The Reko Diq project will also deliver community benefits, including access to clean drinking water, upgrades to primary schools, and vocational and skills training programs. To date, 380 residents of Chagai district have completed vocational training, and 27 students have received scholarships for study abroad.

Officials confirmed that there are no security concerns and that $2.5 billion in international funding has already been secured. Negotiations are ongoing with the World Bank, Asian Development Bank, IFC, and the governments of the United States and Japan to finalize the remaining financing.