Prime Minister Shehbaz Sharif has directed authorities to connect Reko Diq to the country’s railway network by 2028.
The development came during a high-level meeting regarding Pakistan Railways upgradation and linking Reko Diq with railways network in Islamabad on Tuesday, read a statement released by the Prime Minister’s Office (PMO).
Reko Diq, located in Balochistan, is one of the world’s largest undeveloped copper-gold deposits. It is being developed by Barrick Gold, which holds 50%, with the remainder split between Pakistan’s federal and provincial governments.
Production is expected to begin in 2028. Barrick has projected the mine will generate up to $74 billion in free cash flow over its estimated 37-year life.
IFC to provide $400mn loan for Pakistan’s copper-gold Reko Diq mine
Meanwhile, the meeting on Tuesday included a briefing on the development of Pakistan Railways — including the upgradation of ML-1 and ML-3 — in view of future cargo and transport needs.
Chairing the meeting, the prime minister also instructed the formation of an inter-ministerial committee to address financing for the upgradation and development of the railway system.
The committee will present concrete proposals regarding the financing required for the development of Pakistan Railways and its extension to Reko Diq, read the PMO’s statement.
“Pakistan Railways is the backbone of the national economy and communication infrastructure,” said PM Shehbaz.
The prime minister further stated that connecting Reko Diq to the railway network would boost the development of Balochistan’s mines and minerals sector and create new employment opportunities for the local population.
The meeting was attended by Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Defence Minister Khawaja Muhammad Asif, Minister for Economic Affairs Ahad Khan Cheema, Minister for Maritime Affairs Junaid Anwar Chaudhry, Minister for Railways Hanif Abbasi, Minister of State for Railways Bilal Azhar Kayani, Special Assistant Tariq Fatemi, and senior government officials.
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