Islamabad (TDI): The United States Export‑Import Bank (US EXIM) has approved $1.25 billion in financing for the extraction of critical minerals at the Reko Diq mining project in Pakistan’s Balochistan.
The Bank’s commitment was announced by the US Embassy in Pakistan, in a post on social media platform X. The embassy shared a video message by the Chargé d’Affaires, Natalie Baker, and described the funding as a sign of deepening economic cooperation between Washington and Islamabad.
Chargé d’Affaires Baker said that in addition to the financing, EXIM-backed orders could bring up to $2 billion worth of high-quality mining equipment and services to support construction and operation of the mine.
With a new commitment of $1.25 billion in EXIM Bank financing, the U.S.-Pakistan partnership will drive economic growth in Balochistan. Watch Chargé d’Affaires Natalie Baker’s message to hear how this financing will be a game-changer for U.S. businesses and local Pakistani… pic.twitter.com/8EklYNLQpX
— U.S. Embassy Islamabad (@usembislamabad) December 10, 2025
Located in Balochistan, Reko Diq is one of the world’s largest undeveloped copper and gold deposits. The project is operated as a 50:50 joint venture between Canada’s Barrick Gold and Pakistani stakeholders, and production is slated to begin in 2028.
The project is also expected to generate about 7,500 jobs for people in Balochistan and around 6,000 jobs in the United States, Baker further said in her message.
Read More: US Turns to Pakistan to Diversify Critical Minerals Supply Chain
She described Reko Diq as a “model” for future mining endeavors; ones that can benefit both US exporters and Pakistani communities through employment, economic uplift, and strategic cooperation.
According to the leadership of US EXIM, including Chair John Jovanovic, this approval is part of a broader plan in which the bank aims to invest up to $100 billion to strengthen critical-minerals supply chains for the US and its allies, including projects in Pakistan, Egypt, and Europe.
The financing approval comes at a time of renewed economic partnership between the US and Pakistan, with both countries emphasizing mining, critical minerals, and infrastructure as central to future engagement.
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