Pakistan’s mining sector is experiencing significant growth, propelled by multilateral financing and substantial investments, despite delays in the Reko Diq copper-gold project. The Asian Development Bank (ADB) has committed an $800 million package, comprising $300 million in loans and $500 million in guarantees, to support this sector.
The Reko Diq project, located in Balochistan, is one of the world’s largest undeveloped copper-gold deposits. However, Barrick Mining has extended its review period due to rising security concerns in Pakistan and the broader Middle East, potentially affecting budgets and timelines.
Shamsuddin A Shaikh, CEO of National Resources Limited, emphasized the project’s importance to Pakistan’s economic future. He noted that despite delays, Reko Diq remains critical and serves as an anchor for broader mining activities in the region.
The ADB’s innovative financing aims to strengthen global copper supply chains by derisking investments and attracting private capital. This support is part of a broader strategy to integrate Pakistan into global supply chains for critical minerals essential for energy transition and manufacturing.
Local companies, such as the Balochistan Mineral Exploration Company and Mari Mining, are actively participating in exploration activities. The development of downstream industrial capacity, including smelting and refining, is essential to fully capture the value from these mineral resources.
Published in SouthAsianDesk, April 24, 2026
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