According to the recent statement by U.S. Embassy in Pakistan, the USA Export-Import Bank has recently approved $1.25 billion for Reko Diq in new financial assistance for Pakistan.
The embassy has released the video of U.S. Charge d’Affaires Natalie Baker in which she says that the purpose of this financial assistance is to support the mining project of important minerals from the Reko Diq project in Pakistan’s western province of Balochistan. Natalie Baker says in the coming years nearly $2 billion worth of mining equipment and services needed for the Reko Diq project will be provided to Pakistan under EXIM project financing.
It is believed that this project will result in the creation of 6,000 jobs in the United States and 7,500 in Balochistan. The U.S. diplomat says the Reko Diq project will be a model for mining projects that will benefit U.S. exporters as well as local Pakistani communities and partners.
With a new commitment of $1.25 billion in EXIM Bank financing, the U.S.-Pakistan partnership will drive economic growth in Balochistan. Watch Chargé d’Affaires Natalie Baker’s message to hear how this financing will be a game-changer for U.S. businesses and local Pakistani… pic.twitter.com/8EklYNLQpX
— U.S. Embassy Islamabad (@usembislamabad) December 10, 2025
Baker says the Trump administration has made such agreements the centerpiece of their American diplomacy. He further says that his administration is hopeful for more such agreements between America and Pakistani companies in the minerals and mining sector. Balochistan is rich land with some of the most valuable minerals. Most of these minerals are of a strategic nature which is why it is called the mineral hub of Pakistan.
The Geological Survey of Pakistan in 1970s identified gold and copper deposits in Reko Diq in Sandak.Reko Diq project is based in Chagai district is often called a sleeping giant.
Decades ago the Geological Survey of Pakistan discovered potential gold deposits here but for years the project was mired in legal and financial disputes. Now it is being revived under the leadership of Canadian company Barrack Gold. The company resumed work on the project in late 2022 under a new agreement in which the Balochistan government was given a 25% share. The federal government was given 25% share and the company Barrack Gold a 50% share.
The agreement Barrack Gold has promised to invest here and start production by the end of this decade. Today the long silent red mountain area of Rikodik is once again the focus of excavation and survey teams and now officials are hoping to start production by 2028. While efforts are underway to raise capital for the project including a possible investment for Saudi company Manara Minerals according to local media.
According to the CEO of Barrack Gold Corporation Mark Bristow the project has the capacity to produce 400,000 tons of copper annually. He said that $5.5 billion in development costs will be incurred in the first phase of mining minerals and by 2028 the mine will begin producing 200,000 tons of copper concrete and 250,000 ounces of gold annually