Overview

• The ECC approved definitive agreements for the Reko Diq copper‑gold project and required any material execution changes to return to the committee for approval.
• Phase‑I cost was revised to roughly $7.7–$7.72 billion, and the project debt ceiling was raised to $3.5 billion.
• The committee backed $390 million in bridge financing and sovereign guarantees to develop a rail link to move concentrate to port.
• Reports differ on the rail line’s length, with official summaries referencing both about 880 kilometers and about 1,350 kilometers.
• Barrick Gold remains the 50% operator alongside a combined 25% federal SOE stake and 25% held by Balochistan, with first production targeted by late 2028 and Phase‑I completion expected in 2029.