US commits $ 1.25 billion for major mining project in Pakistan's Balochistan

Islamabad [Pakistan], December 10 (ANI): The United States on Wednesday announced a significant investment aimed at boosting mining activity in Pakistan's Balochistan province, with the US Export-Import Bank (EXIM) approving USD 1.25 billion in financing to support the development of the Reko Diq critical minerals project.

Sharing a video on X, Charge d'Affaires ad interim at the US Embassy in Islamabad, Natalie A. Baker said that the US administration has made such deals central to American diplomacy.

"I'm pleased to highlight that the US Export-Import Bank recently approved financing of USD 1.25 billion to support the mining of critical minerals at Reko Diq in Pakistan," said Natalie Baker.

She added that EXIM's financing, over the coming years, will enable "up to $2 billion in high-quality US mining equipment and services needed to build and operate the Reko Diq mine, along with creating an estimated 6,000 jobs in the US and 7,500 jobs in Balochistan, Pakistan."

Calling Reko Diq a model for mining projects, Baker said the project will benefit "US exporters, as well as local Pakistani communities and partners, by bringing employment and prosperity to both our nations."

She further underlined that "the Trump administration has made the forging of deals exactly like this one central to American diplomacy."

"We look forward to seeing further agreements between US companies and their Pakistani counterparts in the critical minerals and mining sector," she added.

The US Embassy in Islamabad also released a brief message on X, noting that the fresh commitment "will drive economic growth in Balochistan."

"With a new commitment of USD 1.25 billion in EXIM Bank financing, the US-Pakistan partnership will drive economic growth in Balochistan," the Embassy wrote, urging viewers to watch Baker's message describing the project as a "game-changer for US businesses and local Pakistani communities."

The latest mining partnership comes as Washington deepens its economic outreach to Islamabad.

Earlier in July, US President Donald Trump announced a separate trade initiative with Pakistan focused on developing the country's oil reserves.

In a post on Truth Social, Trump said both countries were "in the process of choosing the oil company that will lead this partnership," and even suggested that Pakistan might "sell oil to India someday."

The oil announcement came just hours after Trump imposed 25 per cent tariffs, along with additional penalties, on India.

"We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves. We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they'll be selling Oil to India someday!" Trump wrote on Truth Social. (ANI)

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