Pakistan International Bulk Terminal Limited (PIBT) has entered into a strategic agreement with Reko Diq Mining Company (Private) Limited to handle its copper-gold concentrate cargo, while also securing supplemental concessions from the Port Qasim Authority (PQA) to facilitate mineral exports.
The development was disclosed by PIBT in a notice to the Pakistan Stock Exchange (PSX) on Monday. According to the notice, PIBT has executed a supplemental implementation agreement with PQA, granting the terminal additional concessions, rights, and licences for the handling, storage, and export of copper-gold commodities. These include minerals, metals, and other natural earth commodities, to be managed on a non-exclusive basis.
Simultaneously, PIBT has signed an agreement with Reko Diq Mining Company to handle its cargo concentrate, positioning the terminal to support the logistics and export requirements of one of Pakistan’s largest planned mining projects.
Located in Balochistan, Reko Diq is among the world’s largest undeveloped copper and gold deposits. The project is owned 50% by Barrick, 25% by three federal state-owned enterprises, and 25% by the Government of Balochistan, of which 15% is fully funded and 10% is on a free-carried basis. Production is targeted to begin in 2028, with the project expected to make a significant contribution to Pakistan’s economic development.
Incorporated in 2010, PIBT operates under a 30-year Build-Operate-Transfer (BOT) agreement with PQA for the construction, development, operation, and management of the coal and clinker terminal at Port Qasim. The latest approvals expand PIBT’s role to include mineral exports, strengthening its long-term growth prospects and strategic importance in Pakistan’s trade and logistics sector.
