The gold project by Reko Diq With the creation of 7,500 jobs and $53 billion in revenue, Pakistan is poised to revolutionize the economy of Balochistan. One of the biggest mining projects in the area, Pakistan’s Reko Diq Gold Project will last for 37 years.
The Senate Standing Committee on Petroleum was informed by officials that construction is set to start in 2028 and that the project’s financial close is anticipated next month. The $7.7 billion initiative’s first phase will cost between $5.6 and $6 billion to build, and $3.5 billion will be needed for funding. An extra $3–3.6 billion will be needed for phase two, which is scheduled for 2032.
Phase one of the mine’s operation will yield 260,000 tons of copper and 300,000 ounces of gold per year; phase two will yield 400,000 tons of copper and 500,000 ounces of gold.
A total of $70 billion in cash flow is anticipated. The federal government will get $11 billion, three government agencies will make a total of $15 billion, and the Balochistani government will receive $26 billion.
The project promises community development in addition to economic impact, including improved schools, clean drinking water, and job training. 380 people from the Chagai district have already finished their training, and 27 students have been awarded international scholarships.
There are no security issues, according to officials. International funding totaling $2.5 billion has been obtained, and negotiations are still underway to finalize the remaining funding with the World Bank, Asian Development Bank, IFC, and the governments of the United States and Japan.
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