ISLAMABAD (Kashmir English): The US Export-Import (EXIM) Bank has approved financing of $1.25 billion to support the mining of critical minerals at Reko Diq, undeveloped copper and gold deposits in Balochistan, Pakistan.
The project is a joint venture between Canada’s Barrick Gold (50%) and Pakistani stakeholders (50%) and aims to start production in 2028.
In a post on X, the US Embassy said that with a new commitment of $1.25 billion in EXIM Bank financing, the US-Pakistan partnership will drive economic growth in Balochistan.
In a video message, Chargé d’Affaires Natalie Baker said that in the coming years, EXIM’s project financing will bring up to $2 billion “in high-quality US mining equipment and services needed to build and operate the Reko Diq mine”.
Along with creating an estimated 6,000 jobs in the US and 7,500 jobs in Balochistan, Pakistan, Baker said.
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
“The Reko Diq project serves as the model for mining projects that will benefit US exporters, as well as local Pakistani communities and partners by bringing employment and prosperity between both our nations.”
Baker added that the US President Trump administration has made the forging of these deals central to American diplomacy. “We look forward to seeing further agreements between US companies and their Pakistani counterparts in the critical minerals and mining sector,” she concluded.
Last month, the US EXIM chair John Jovanovic told the Financial Times that the bank will invest $100 billion to secure US and allied supply chains for critical minerals, nuclear energy, and liquefied natural gas.
The first tranche of deals will include projects in Egypt, Pakistan, and Europe, Jovanovic told the newspaper.
In recent months, US-Pakistan ties have seen a significant revival, with both sides focusing on expanded economic engagement and security cooperation amid changing global dynamics.
