Arif Habib Consortium Moves to Fully Acquire PIA
May 1, 2026
EIB explores Reko Diq investment as Barrick delays plans. Stability, mineral access, and policy clarity remain crucial for Pakistan’s evolving investment landscape.
The European Investment Bank (EIB) has indicated potential interest in Pakistan’s Reko Diq mining project, particularly in financing supporting infrastructure tied to mineral extraction.
At the EU-Pakistan Business Forum, an EIB representative noted the bank’s willingness to back infrastructure linked to the project, while underlining that reliable access to critical minerals remains vital for Europe’s technological and environmental ambitions.
Pakistan’s Director General Minerals, Nawaz Ahmed Virk, addressed claims about the country’s mineral wealth, stating that widely circulated estimates lack sufficient geological validation and require further study to confirm their accuracy.
Reko Diq, regarded as one of the largest untapped copper and gold deposits globally, is currently being reassessed by Barrick Gold. The company has paused key development decisions until mid-2027, citing security challenges and the need to revisit financial plans, timelines, and project scale.
The EIB also emphasized that consistent regulations and clear policies are essential to attract investment. In a separate development, the bank signed a €100 million agreement with Pakistan to support housing reconstruction in Sindh following the 2022 floods.
