Overview
- Officials expect full financial close in the first half of December following US Exim’s $1.25 billion approval and before an RDMC board meeting on December 9.
- About $3.5 billion in project debt has been lined up from 11 international lenders, led by the IFC with reported allocations from ADB ($300 million), JBIC (about $300 million) and European ECAs (about $900 million).
- Canada’s Export Development Canada will co‑finance alongside US Exim, lifting their combined support to roughly $1.4 billion tied to equipment and services for mine construction.
- Lenders have lifted the Phase 1 capital estimate to around $7.7 billion to add contingencies, although some statements still cite a $7 billion figure.
- Construction is progressing toward ore processing by late 2028 and first copper exports in early 2029, with RDMC also pledging $390 million to upgrade Pakistan Railways’ ML‑2 and ML‑3.