Pakistan approves major agreements for Reko Diq project

ISLAMABAD: In the wake of catalysing Pakistan’s economic growth, the Economic Coordination Committee (ECC) of Pakistan has officially approved the final agreements and financial commitment for the Reko Diq project about copper mining, ARY News reported.

The Reko Diq project was approved during the high-level meeting, chaired by Finance Minister Muhammad Aurangzeb in Islamabad.

This groundbreaking decision is likely to drive economic expansion, infrastructure development, and long-term socio-economic benefits across Balochistan.

During the meeting, the ECC approved final agreements which had been presented by the Petroleum Division, including a pivotal rail development agreement between the Ministry of Railways and the Reko Diq Mining Company.

The agreement under the Reko Diq project includes a $390 million bridge financing package to develop a 1,350-kilometre railway line, established to support the export of minerals from Balochistan.

Finance Minister Muhammad Aurangzeb highlighted the groundbreaking possibility of the Reko Diq project. “The project will reshape Balochistan’s economic landscape by creating employment, fostering infrastructure, and providing sustained regional development.” He stated.

Muhammad Aurangzeb also mentioned that the project will unveil one of the world’s biggest undeveloped copper-gold deposits.

The ECC instructed the Ministry of Railways to share all agreement documents with the Finance Division for evaluation and directed both ministries to submit a complete progress report by March 2026.

The ECC further clarified that any change in material during final execution must be resubmitted for approval.

The key federal ministers, including Petroleum Minister Ali Pervaiz Malik, Food Security Minister Rana Tanveer Hussain, and Board of Investment Minister Qaiser Ahmed Sheikh, were part of the meeting, alongside senior officials from relevant ministries and regulatory bodies.

The Reko Diq project is widely regarded as a fundamental element of Pakistan’s mineral development strategy and is likely to bring significant foreign investment while ensuring local participation and benefit-sharing.