OGDC Invests $25m in Reko Diq

OGDC invests $25m in Reko Diq this quarter as mine development stays on track, with no delays expected and production targeted for 2028.

Read more: Pakistan Secures $3.5B for Reko Diq Progress

Oil and Gas Development Company Limited (OGDC) has invested $25 million in the Reko Diq project during the current quarter, as part of a broader $75 million injection by Pakistan Minerals Private Limited (PMPL), reinforcing momentum in one of Pakistan’s most strategic mining developments.

Management confirmed that recent corporate changes at Barrick, which holds a 50% stake in the project, will not affect progress. “No delays are expected so far as work at the mine is still ongoing,” the briefing report stated during a session attended by Topline Securities.

Located in Balochistan, Reko Diq is among the world’s largest undeveloped copper and gold deposits, with production targeted for 2028. Ownership is split between Barrick (50%), federal SOEs including OGDC (25%), and the Government of Balochistan (25%).

OGDC also updated investors on its upstream portfolio, confirming two projects completed and four more under development, expected to add significant gas and oil output between 2HFY26 and FY27.