Published on, Aug. 22 -- August 22, 2025 10:33 AM

Pakistan has secured a $410 million financing package from the Asian Development Bank (ADB) to support the development of the Reko Diq copper-gold mine in Balochistan, one of the world's largest untapped deposits. The funding includes $300 million in loans to Barrick Gold and a $110 million partial credit guarantee to cover the equity component of the Government of Balochistan, aiming to accelerate mine development and ensure financial stability for the project.

The $6.6 billion Reko Diq project is a joint venture where Barrick Gold holds a 50% stake, while the federal and provincial governments collectively own the remaining half. Islamabad views this project as a turning point for its ...