Canadian mine developer Barrick Mining is celebrating major developments in its ambitious $7 billion Reko Diq Project. This project takes place in Balochistan, Pakistan. The project is poised to be the world’s third largest copper mine. It’s been able to attract $6 billion cash equivalent in loan pledges from a who’s who of U.S. and international lenders. This financing announcement, first reported on September 8th, 2025, would indeed prove to be a landmark advance for the oft beleaguered mine.
One of the world’s largest undeveloped copper and gold deposits, the Reko Diq Project is ultimately aimed at extracting the two most sought-after metals on earth. The project has enormous mineral reserves, which is what makes it such an exciting opportunity. It could totally change the economic prospects for the entirety of Pakistan’s mining sector. Barrick Mining, which is currently developing a large-scale mine, is spearheading these development efforts and hopes to improve conditions in the region by creating jobs and improving critical infrastructure.
Undeterred by the promising dollar support, Barrick Mining ran into trouble further down the project’s calendar. This follows a major Saudi Arabian investor recently walking away from their commitment to the Reko Diq Project. This withdrawal raised concerns about the project’s future. Barrick Mining’s successful outreach to other lenders has reaffirmed confidence in the venture.
The strategic importance of the Reko Diq Project is huge. It’s a development that holds great promise to spur Pakistan’s economy. In Balochistan, local communities are looking forward to the increased employment opportunities and heightened economic activity that comes with this promise. The scale of the project positions it as a key player in the global copper market, addressing rising demand for these essential materials.
Barrick Mining believes in responsible, progressive mining and has pledged to bring sustainable, responsible mining to Reko Diq. The company has made commitments to environmental stewardship and community engagement during the development process.