Reko Diq Mining Company (RDMC) is continuing to progress with the raising of up to US$3 billion of limited recourse project finance to support the development of Phase 1 of the Reko Diq project.
The project involves a group of lenders including the International Finance Corporation (IFC) and the International Development Association (IDA), Asian Development Bank (ADB), US International Development Finance Corporation (DFC), Export-Import Bank of the United States (US EXIM), Export Development Canada (EDC), Euler Hermes AG and KfW IPEX-Bank GmbH of Germany, Exportkreditnämnden (EKN) of Sweden, and Finnvera Oyi (Finnvera) of Finland, together with a covered commercial bank tranche.
The RDMC remains on track to sign project finance documents and have the project loan available for initial drawdown in the second half of 2025, said a statement issued by RMDC.
The statement mentioned that RDMC welcomes the approval on 12 June 2025 by the IFC and IDA of a direct loan of up to US$700 million for RDMC at a joint board meeting.
The target for first production from the project remains the end of 2028.
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