ISLAMABAD: Australian firms are keen to join Pakistan’s flagship Reko Diq copper and gold project, highlighting the project’s strategic importance and growing global interest in the South Asian country’s vast but largely untapped mineral resources.
Australian High Commissioner Timothy Kane said this during a meeting with Pakistan’s Energy Minister Ali Pervaiz Malik in Islamabad on Tuesday.
The envoy informed the Minister that Australian companies are already working on the Reko Diq project, while more Australian firms are keen to join the project.
He added that the Australian High Commission is facilitating the participation of Australian companies in the Pakistan Minerals Investment Forum.
The Australian High Commissioner also highlighted the availability of opportunities for technical assistance and knowledge sharing in the gemstones sector.
Acknowledging the increasing interest of Australian companies in Pakistan’s mining sector, Ali Pervaiz Malik proposed an intergovernmental agreement to strengthen collaboration between Pakistan and Australia in this industry.
Federal Minister for Petroleum Ali Pervaiz Malik held a meeting today with the Australian High Commissioner to Pakistan, H.E. Mr. Timothy Kane, to discuss avenues for enhanced bilateral cooperation in the mining and gemstones sectors. pic.twitter.com/XQKmdXgRb6
— Petroleum Division, Ministry of Energy (@Official_PetDiv) January 27, 2026
Pakistan is home to some of the world’s most notable mineral reserves, including the second-largest salt mines, the fifth-largest copper and gold deposits, and significant coal reserves.
Additionally, the country holds vast quantities of bauxite, gypsum, and precious stones such as ruby, topaz, and emerald, offering considerable export potential.
Despite its huge potential, the mineral sector currently contributes around 3.2% to the country’s GDP, with exports accounting for only 0.1% of the world’s total.
However, with increasing exploration, foreign investment, and infrastructural improvements, Pakistan’s mining industry is poised for significant expansion.
The country’s mining sector is increasingly drawing foreign investment, with global firms targeting its untapped mineral resources.
The Reko Diq copper and gold project, located in Balochistan’s Chagai district, represents the world’s largest untapped copper reserve and marks a milestone in Pakistan’s mining ambitions.
Revived by Canada’s Barrick Gold, the project is expected to begin copper and gold production by 2028, with an initial investment of $5.5 billion.
According to Barrick Gold, which holds a 50% stake in the project, the reserve is projected to generate approximately $74 billion in free cash flow over the next 37 years, based on consensus long-term prices.
The mine is anticipated to generate $2.8 billion in annual exports, create thousands of jobs, and transform the local economy.
A planned expansion will further increase copper production to 400,000 tonnes and gold output to 500,000 ounces per year, requiring an additional investment of $3.5 billion.
Beyond Reko Diq, Balochistan holds over 40 minerals, including oil, gas, uranium, and coal, with the potential to fuel Pakistan’s energy and industrial needs for a century.
Efforts are also underway to establish refineries, which will allow Pakistan to move up the value chain and reduce reliance on raw material exports.
