{"id":101917,"date":"2025-04-14T10:17:00","date_gmt":"2025-04-14T05:17:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=101917"},"modified":"2025-04-15T16:22:23","modified_gmt":"2025-04-15T11:22:23","slug":"pak-targets-2-8-bn-copper-exports-from-reko-diq","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pak-targets-2-8-bn-copper-exports-from-reko-diq.html","title":{"rendered":"Pakistan targets USD 2.8 bn copper exports from Reko Diq by 2028"},"content":{"rendered":"\n

Lahore: Finance Minister Muhammad Aurangzeb has said that Pakistan\u2019s Reko Diq gold and copper mining project is expected to generate USD 2.8 billion in annual export earnings once production begins in 2028. Speaking at the Lahore Chamber of Commerce, the minister said the project will play a central role in transforming Pakistan into an export-driven economy.<\/p>\n\n\n\n

\u201cCopper is going to play the most critical role in terms of energy transition,\u201d Aurangzeb said, referring to global trends that have increased demand for copper, especially in the renewable energy sector. \u201cTo this, deposits in Reko Diq are our answer.\u201d<\/p>\n\n\n\n

Read: Barrick Gold moves forward with USD 3 bn investment in Reko Diq<\/a><\/p>\n\n\n\n

Drawing comparisons to Indonesia\u2019s success in leveraging its nickel reserves, which earned the country USD 22 billion in exports in 2024, the minister remarked, \u201cCopper is to us what nickel has been to Indonesia.\u201d<\/p>\n\n\n\n

Located in Balochistan, the Reko Diq mine is considered one of the world\u2019s largest untapped copper and gold reserves. The project is being developed as a joint venture with international partners and is seen as a key pillar of Pakistan\u2019s long-term economic strategy.<\/p>\n\n\n\n

The finance minister also outlined broader macroeconomic improvements, including a decline in inflation, falling interest rates, and reduced debt servicing costs for businesses. While acknowledging recent volatility in the stock market, he downplayed its impact, saying, \u201cI consider our stock market as a data point\u2026 it is still not deep enough to reflect main street sentiment.\u201d<\/p>\n\n\n\n

Emphasising the need for a national shift toward export orientation, Aurangzeb said, \u201cEvery single sector has to export.\u201d He shared this view during a recent exchange with the Ethiopian ambassador at the Made in Gujranwala Expo 2025.<\/p>\n\n\n\n

Read: Reko Diq mine to yield USD 74bn in 37 years: Barrick CEO<\/a><\/p>\n\n\n\n

On the fiscal front, he confirmed ongoing discussions with the International Monetary Fund (IMF), stating that talks were progressing positively. The government, he said, is committed to improving the tax-to-GDP ratio from the current 9\u201310% to 13% through tax base expansion. \u201cOnly if we broaden the tax base will this be the last IMF programme,\u201d he added.<\/p>\n\n\n\n

Aurangzeb also announced upcoming measures aimed at simplifying income tax filing for the salaried class, including the launch of mobile applications. Demonstrating a personal commitment to public service, he revealed that he has not drawn a salary for the past 15 months.<\/p>\n\n\n\n

Regarding privatisation efforts, the finance minister confirmed that new expressions of interest for the sale of Pakistan International Airlines (PIA) will be issued later this month.<\/p>\n\n\n\n

Read: Mineral reserves could free Pak from IMF dependence: PM Sharif<\/a><\/p>\n\n\n\n

The remarks reflect the government\u2019s broader push to stabilise the economy, reduce reliance on external financing, and unlock the country\u2019s export potential through strategic resource development.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lahore: Finance Minister Muhammad Aurangzeb has said that Pakistan\u2019s Reko Diq gold and copper mining project is expected to generate USD 2.8 billion in annual export earnings once production begins in 2028. Speaking at the Lahore Chamber of Commerce, the minister said the project will play a central role in transforming Pakistan into an export-driven economy. \u201cCopper is going to play the most critical role in terms of energy transition,\u201d Aurangzeb said, referring to global trends that have increased demand for copper, especially in the renewable energy sector. \u201cTo this, deposits in Reko Diq are our answer.\u201d Read: Barrick Gold moves forward with USD 3 bn investment in Reko Diq Drawing comparisons to Indonesia\u2019s success in leveraging its nickel reserves, which earned the country USD 22 billion in exports in 2024, the minister remarked, \u201cCopper is to us what nickel has been to Indonesia.\u201d Located in Balochistan, the Reko Diq mine is considered one of the world\u2019s largest untapped copper and gold reserves. The project is being developed as a joint venture with international partners and is seen as a key pillar of Pakistan\u2019s long-term economic strategy. The finance minister also outlined broader macroeconomic improvements, including a decline in inflation,…<\/p>\n","protected":false},"author":18,"featured_media":101152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[63220,63554,63746,20718,63748,60542,63745,63747,34475,63749,59285,14927,6084,1109],"persona":[],"class_list":{"0":"post-101917","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-balochistan-minerals","9":"tag-copper-demand","10":"tag-copper-exports","11":"tag-economic-development","12":"tag-export-driven-growth","13":"tag-imf-pakistan","14":"tag-mining-projects","15":"tag-muhammad-aurangzeb","16":"tag-pakistan-economy","17":"tag-pakistan-finance-ministry","18":"tag-pia-privatisation","19":"tag-reko-diq","20":"tag-renewable-energy","21":"tag-tax-reforms","22":"cat-15016-id"},"acf":[],"yoast_head":"\nPak targets $ 2.8 bn copper exports from Reko Diq - 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