Islamabad: The Asian Development Bank has approved a financing package for Pakistan’s Reko Diq copper-gold mine in Balochistan: In a press release, ADB President Masato Kanda stated that the bank’s contribution consists of up to three hundred million dollars in senior loans to the Reko Diq Mining Company Private Limited, which owns the mine, and one hundred and ten million dollars partial credit guarantee to cover the equity component of the Government of Balochistan.

According to Radio Pakistan, ADB’s support is seen as pivotal for Pakistan, as it is expected to create jobs and support the nation’s move towards a more resilient and diversified economy. The Reko Diq mine is slated to begin copper concentrate production in late 2028 and is projected to operate for at least thirty-seven years.