WASHINGTON, DC (Web Desk) Pakistan’s mining sector is poised for major expansion, with Finance Minister Muhammad projecting that the first year of commercial operations at the Reko Diq copper and gold project could generate $2.8 billion in copper exports, a 10 per cent increase in the country’s overall export base.
Speaking to the media at the conclusion of his weeklong US visit for the IMF–World Bank Annual Meetings in Washington, Aurangzeb said the project is only the beginning, with additional mines and concessions expected to come online in the coming years.
“This is just the start because there are other mines and concessions coming through,” he said.
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Aurangzeb highlighted that the Reko Diq project is attracting US investment, with the International Finance Corporation (IFC) leading the syndication and US EXIM Bank expected to participate once the US government shutdown concludes.
Islamabad’s long-term vision includes smelting and value addition, which will enhance Pakistan’s industrial output.
“That’s not going to happen overnight, but where we are headed has huge upside for Pakistan,” he said.
