The Reko Diq copper-gold mining project is a joint venture between Canadian company Barrick Gold, the Government of Pakistan and the provincial government of Balochistan.

A month later, Pakistan is going to get another loan of $700 million. The Shahbaz Sharif government had requested for funds in the name of the copper-gold mining Reko Diq project, which was approved by the International Finance Corporation (IFC) and the World Bank. This project is located in Balochistan, Pakistan.

Last month, on 9 May, the International Monetary Fund (IMF) approved a loan of 2.4 billion dollars for Pakistan, out of which one billion dollars was given to it as an installment of a loan program of 7 billion dollars, while a loan of 1.4 billion dollars was given to deal with climate change. This loan was approved at a time when relations between Pakistan and India were going through a very bitter phase and India had also strongly opposed the loan in the IMF.

According to The Express Tribune, Pakistan, the loan has been approved during a board meeting in Washington, which is being seen as a diplomatic victory for Pakistan. Pakistan has described this project as one of the most important initiatives of the country. The approval of international forums is also considered very important for Pakistan in this regard because an investment of $ 2.5 billion is also expected from private companies in the Reko Diq project.

According to the report, Dr. Tauqeer Hasan, advisor to Pakistan Prime Minister Shahbaz Sharif, played an important role in getting the loan passed from IFC and World Bank. Due to his lobbying and efforts in the World Bank for the loan, Pakistan was successful in getting the loan. 

In April, the IFC said it would provide a $300 million loan for the Reko Diq copper-gold mining project. However, Tim Cribb, the project's director, said at the Minerals Investment Forum 2025 that they could get a loan of $650 million from the IFC.

Tim Cribb thinks the project could also get a loan of up to two billion dollars from the World Bank as he told Reuters that he expects more than two billion dollars in funding from international lenders for the project. He said the term sheet would be signed in this regard in the beginning of the third quarter. 

Barrick Miners is also talking to many other international firms for the project. Tim Cribb said that talks are also going on with the US Export-Import Bank. Tim Cribb said that talks are also going on with the US bank for a loan of 500 million to 1 billion dollars and also with the Asian Development Bank, Export Development Canada and Japan Bank for International Corporation for a loan of 500 million dollars.

What is the Reko Diq Project?

The Reko Diq Project is one of the world's largest undeveloped copper and gold deposits located in the Chagai district of Balochistan. The Canadian company Barrick Gold, the Government of Pakistan and the provincial government of Balochistan are working together on this project, the first phase of which is expected to start in the year 2028. 

According to the report, the loan will aid development of the Reko Diq mine, which is said to be one of the world's largest copper-gold reserves, which is expected to generate free cash flow of $70 billion and operating cash flow of $90 billion.

According to Canadian company Barrick, Barrick has 50 percent stake in Reko Diq project while Pakistan government and Balochistan government have 25-25 percent stake.

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