The Economic Coordination Committee (ECC) has given the green light to a series of major agreements tied to the much-anticipated Reko Diq project, marking a significant step forward for one of Pakistan’s largest mining ventures.

At the meeting chaired by Finance Minister Muhammad Aurangzeb, the ECC approved a $390 million bridge financing agreement for the construction of a 1,350-kilometre railway track. This railway will play a key role in transporting export material from Balochistan’s mineral-rich mines, ensuring the efficient movement of copper and gold reserves.

The meeting reviewed a summary from the Petroleum Division seeking approval for the final agreements and financial commitments of the Reko Diq project. With these Reko Diq project approvals, the groundwork has been laid for development activities to begin.

According to the Ministry of Finance, the ECC directed that if there are any major changes in the final agreements after legal and financial reviews, the matter will be revisited to ensure transparency and accountability.

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The Ministry of Railways also presented a Rail Development Agreement with the Reko Diq Mining Company, alongside the $390 million financing package. Both agreements were cleared, with instructions to share copies with the Ministry of Finance for further evaluation. The ECC further directed that both ministries submit a progress report by March next year, ensuring timely monitoring of the project’s implementation.

Finance Minister Muhammad Aurangzeb emphasized that the Reko Diq project approvals reflect the government’s commitment to driving long-term prosperity in Balochistan. He highlighted that the project, home to one of the world’s largest untapped copper and gold reserves, would generate employment, enhance infrastructure, and deliver socio-economic uplift for the region and the country at large.

The meeting was attended by Federal Minister for Petroleum Ali Pervaiz Malik, Federal Minister for National Food Security Rana Tanveer Hussain, Federal Minister for Investment Qaiser Ahmed Sheikh, alongside federal secretaries and senior officials from relevant ministries and regulatory bodies.