Pakistan Petroleum Limited (PPL) has injected an additional Rs14 billion (approximately $50.2 million) into the Reko Diq copper-gold project, raising its total equity contribution to Rs68.1 billion ($243.6 million). The fresh investment underscores Pakistan’s continued financial commitment to one of the country’s largest mining ventures despite prevailing security concerns in Balochistan.
The project is operated by Canada-based Barrick Mining Corporation, which holds a 50 percent stake in Reko Diq. The remaining shares are split between Pakistani stakeholders, with PPL and other state-owned enterprises collectively owning 25 percent, while the Government of Balochistan holds the remaining 25 percent.
Barrick is currently conducting a comprehensive review of the project following the January attacks in Balochistan that resulted in the loss of 36 civilian and 22 security personnel lives. The review encompasses security arrangements, development timelines, and capital expenditure plans. Despite the security assessment, site development activities reportedly continued between July and December of FY26.
Balochistan Chief Minister Sarfraz Bugti reiterated the provincial and federal governments’ resolve to ensure the safety and successful execution of the project, emphasizing Pakistan’s capacity to secure strategic economic assets.
Beyond Reko Diq, Pakistan Petroleum Limited maintains a diversified portfolio of 47 exploratory blocks, including offshore Abu Dhabi Block-5 and an onshore concession in Yemen. In December, PPL assigned a 25 percent stake and operatorship of the Eastern Offshore Indus C block to Turkish Petroleum Overseas Company, while OGDCL and Mari Energies Limited secured 20 percent stakes each. PPL retained a 35 percent share to ensure active participation in the block’s development.
The additional investment signals PPL’s long-term commitment to strengthening Pakistan’s mineral resource base and enhancing foreign investment confidence in the country’s extractive sector.
