ADB to provide $410 million package for Barrick-run Pakistan mine, sources say
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The Asian Development Bank (ADB) is set to provide a $410 million financing package for the development of Pakistan's Reko Diq copper-gold mine, operated by Barrick Gold. The package includes $300 million in loans to Barrick and a $110 million financing guarantee for the Pakistani government. The project, expected to produce copper and gold by 2028, aims to generate $70 billion in free cash flow over its lifespan. Reko Diq, which has faced legal disputes, is projected to produce 200,000 metric tons of copper annually in its first phase, increasing to 400,000 tons after expansion.
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