KARACHI: Pakistan International Bulk Terminal Limited has secured two pivotal agreements positioning its Port Qasim facility as the primary export hub for the cargo concentrate generated by the multi-billion dollar Reko Diq copper-gold project, marking a major milestone for Pakistan’s logistics and export sector.
In a disclosure to the Pakistan Stock Exchange (PSX), PIBT confirmed that it will expand its operations beyond coal, clinker, and cement to include handling specialized mineral concentrates.
The development follows the execution of a Supplemental Implemen-tation Agreement with the Port Qasim Authority (PQA), granting PIBT non-exclusive rights to handle, store, and export “copper-gold commodities, including minerals, metals, and other natural earth commodities.”
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Originally developed with a $305 million investment as Pakistan’s first fully mechanized bulk cargo terminal, PIBT now plans further infrastructure upgrades to accommodate these high-value mineral exports. The terminal currently handles 12 million tons of imports and 4 million tons of exports annually. Port Qasim itself manages over half of Pakistan’s sea trade and serves as a key multi-modal hub with road and rail connectivity.
Meanwhile, PIBT has also finalized a direct agreement with Reko Diq Mining Company (Private) Limited (RDMC) to handle its cargo concentrate. The Reko Diq project, located in Balochistan’s Chagai district, is one of the world’s largest undeveloped copper-gold deposits, with an estimated mine life of 40 years. Annual production is projected at 200,000–250,000 tons of copper along with significant gold concentrate output.
The USD6.6 billion project is a joint venture majority-operated by Canada’s Barrick Gold Corporation (50%), with Pakistan’s state-owned enterprises and the Balochistan government holding 25% each. It is expected to multiply Pakistan’s copper exports tenfold and generate a transformative economic impact for Balochistan.
The copper-gold concentrate will be transported over 1,400 kilometers by rail from the mine to Port Qasim, chosen over Gwadar Port as the preferred marine terminal. The agreements received clearance from the Economic Coordination Committee (ECC) and an exemption from competitive bidding under the Public Procurement Regulatory Authority (PPRA) due to the project’s national importance. Commercial exports from Reko Diq are expected to begin in 2028.
Copyright Business Recorder, 2025
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