The Economic Coordination Committee (ECC) of the federal cabinet on Thursday approved key financial and legal agreements related to the multibillion-dollar Reko Diq copper and gold mining project, signaling a major step forward in one of the country’s most significant resource development initiatives.
Chaired by Finance Minister Muhammad Aurangzeb, the meeting approved several proposals submitted by the Petroleum Division and the Ministry of Railways with an aim to accelerate progress on the long-stalled project, considered one of the world’s largest undeveloped copper-gold reserves.
In a statement, the Finance Division said the ECC had approved the final terms of definitive agreements related to project financing. It sought a revisiting of material deviations identified by the project’s legal and financial consultants—and certified by the Reko Diq Mining Company—for further approval.
The ECC also reviewed a proposal seeking approval for a rail development agreement and a bridge financing agreement with the Reko Diq Mining Company. The proposed financing, valued at $390 million, aims to support the construction of a 1,350km railway line for transporting export materials from the Reko Diq site. Approving the proposal, the ECC directed the Ministry of Railways to share both agreements with the Finance Division for financial appraisal. It also asked the Railways and Finance ministries to submit an update on the execution and implementation of the project by March 2026.
“This approval demonstrates the government’s firm commitment to moving forward with this landmark project,” Aurangzeb said during the meeting. “The Reko Diq project will not only unlock one of the world’s largest undeveloped copper-gold deposits, but also catalyze job creation, infrastructure development, and long-term socio-economic uplift across the region,” he added.