Japan Plans $300 Million Investment in Pakistan's Copper-Gold Project
Japan's Japan Bank for International Cooperation (JBIC) is planning to invest $300 million in Pakistan's Reko Diq copper-gold project. The project will focus on the Reko Diq mine, considered the fifth-largest copper mine in the world. Another company is also planning a significant investment.
Pakistan, struggling economically due to political instability and tensions with India, has mineral-rich land that could transform its fortune. The country's army chief holds considerable influence, and now he could benefit from the Reko Diq project. JBIC’s investment is officially taking shape, providing a loan of around $300 million (approximately ₹2,500 crore).
According to Nikkei Asia, this step is part of Japan’s strategy to secure global supply of critical minerals, especially those expected to face shortages in coming years. Pakistan’s Finance Minister Muhammad Aurangzeb recently met with JBIC Governor Nobumitsu Hayashi in Washington. After the meeting, Aurangzeb stated that JBIC joining the Reko Diq lenders group would increase investor confidence and encourage Japanese companies to expand in Pakistan.
The JBIC loan agreement is expected to be finalized by early next year.