Rekodiq: Pakistan’s Treasure Trove of Golden Promises

The Reko Diq project in Balochistan, managed by Barrick Gold, is poised to become a significant player in the global copper market. With an initial investment of $5.5 billion, the first phase aims to produce 200,000 tonnes of copper concentrate and 250,000 ounces of gold annually by 2028. A subsequent $3.5 billion expansion could double these outputs. This venture is expected to generate over $3 billion in annual exports, bolstering Pakistan’s economy. However, the absence of domestic copper refineries means that all output will be exported without local value addition. Establishing refineries and downstream industries could help Pakistan avoid the resource curse and maximize economic benefits.