Trump and Shahbaz eye Balochistan's treasures! The US will invest $1.3 billion to extract gold and copper.

News Topical, Digital Desk : The United States has announced an investment of approximately $1.3 billion for a gold and copper mining project in Balochistan, Pakistan. Located near the Pakistan-Iran border, the Reko Diq project is a $7 billion project and is expected to begin production by the end of 2028.

The project is being developed by Canadian miner Barrick Mining Corp. in partnership with Pakistani authorities. The US investment will be made through the Export-Import Bank of the United States (EXIM).

Concerns about security

Barrick holds a 50 percent stake in the project , while the remaining 25 percent is held by three federal government companies and the remaining 25 percent by the Balochistan government .

Balochistan is frequently attacked by separatists and jihadists, making security a major concern for the mine. The project also requires upgrading the railway line to transport copper concentrate to Karachi and then to processing abroad.

Investment

According to a Reuters report, the International Finance Corporation and other lenders, including the Asian Development Bank, are preparing a financing package worth more than $2.6 billion. Reko Diq is crucial for Pakistan.

Islamabad is banking on the mine to strengthen its mineral strategy, while the Canadian miner is pushing ahead with one of its largest long-term projects.

The Shahbaz Sharif government welcomed the move, calling it a vote of confidence in the country's mining sector and economic reforms. Islamabad hopes the project will generate billions of dollars in revenue over its lifespan and contribute significantly to the cash-strapped country's development.

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