Balochistan’s Treasure: Reko Diq Gold & Copper Worth Trillions
A recent feasibility study has revealed that Balochistan’s Reko Diq project holds vast copper and gold reserves worth over $60 billion.
Following this confirmation, three state-owned energy companies have more than doubled their funding to $1.9 billion.
Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Government Holdings Private Limited (GHPL) had initially announced a commitment of $300 million,
which has now been increased to $627 million, taking the total funding to $1.88 billion.
The Reko Diq project contains 13.1 million tonnes of copper and 17.9 million ounces of gold, valued at $60 billion at current prices, including $54 billion in gold and $6 billion in copper.
The project will start processing 45 million tonnes per year from 2028, increasing to 90 million tonnes by 2034.
The project will be fully solar-powered, making it the only green project of its kind in the world.
OGDCL, PPL, and GHPL collectively hold 25% of the shares, while the Balochistan government holds 25%, and Barrick Gold Corporation holds 50%. The project also has the potential for further investment and expansion.
This development is a major economic and industrial milestone for Pakistan, which will play a significant role in the country’s development.
