The United States has approved $1.3 billion in funding for the development of the Reko Diq mining project located in Balochistan, Pakistan. This amount covers a substantial portion of the project’s overall development costs. The financing was granted through the US Export-Import Bank’s critical minerals framework, which supports mining and extraction initiatives globally.
The Reko Diq project is one of Pakistan’s largest mineral ventures, focusing on the extraction of valuable minerals. The US funding aims to facilitate the advancement of this significant mining operation, contributing to the region’s economic development.
**Why this matters**
The investment highlights the strategic importance of critical minerals and the role they play in global supply chains. By supporting the Reko Diq project, the US is helping Pakistan enhance its mineral production capacity, which could have implications for economic growth and resource security in the region.
Source: NewsData