US Backs $1.25 Billion Investment in Pakistan's Reko Diq Mine

The Trump administration approves $1.25 billion in EXIM Bank financing for Balochistan's Reko Diq copper-gold mine in Pakistan. This initiative aims to generate jobs in both the US and Balochistan, strengthen US-Pakistan commercial ties, and build a model for future mining projects.

The Trump administration has sanctioned $1.25 billion from the US Export-Import (EXIM) Bank for Pakistan's Reko Diq copper-gold mine, located in the turbulent province of Balochistan. This region, rich in minerals, faces challenges due to persistent militancy and insurgencies.

In a video message uploaded to X, US Charge d'Affaires in Islamabad, Natalie Baker, revealed plans for EXIM Bank's potential investment of up to $2 billion in Pakistan to bolster the mining sector. Baker emphasized the initiative's role in promoting US mining equipment and services, with employment projections suggesting 6,000 jobs in the US and 7,500 more in Balochistan.

Baker asserted that the project stands as a model for future mining ventures, benefiting both US exporters and local Pakistani communities. With a partnership between Barrick Gold Mining and Pakistani governments targeting initial production by 2028, this move coincides with improving US-Pakistan relations, acknowledged by Trump's nomination for a Nobel Peace Prize.

(With inputs from agencies.)