KARACHI: A bulk cargo terminal operating at Pakistan’s Port Qasim has signed an agreement to handle and export copper-gold commodities from Reko Diq, including minerals, metals and other natural earth resources, in a move expected to support multibillion-dollar mineral exports from the country.
The terminal operator, Pakistan International Bulk Terminal Limited (PIBT), said the agreement positions it as the primary export gateway for Reko Diq’s mineral output and strengthens Pakistan’s ambitions to expand its footprint in global commodity markets.
The deal covers logistics, storage and exports for output from the Reko Diq copper-gold project in southwestern Balochistan province, one of the world’s largest undeveloped mineral deposits, with shipments expected to begin from 2028.
“This agreement is a historic milestone for PIBT and Pakistan, enabling exports from one of the world’s most significant mining projects and serving as a cornerstone for national economic growth,” Sharique Azim Siddiqui, CEO of PIBT, said in a statement.
He expressed appreciation to the government, the Special Investment Facilitation Council, the Ministry of Maritime Affairs and the Port Qasim Authority for their “pivotal role.”
Barrick Mining Corporation, which is developing Reko Diq, also welcomed the agreement.
“We’re delighted to have signed this important agreement with PIBT which marks another step forward in ensuring that Reko Diq delivers lasting value to all our stakeholders but particularly the people of Balochistan and Pakistan,” Mark Hill, the company’s top official, said.
PIBT is a fully mechanized multipurpose bulk terminal located at Port Qasim and was developed with a $305 million investment in partnership with the International Finance Corporation.
The terminal currently has an annual handling capacity of 12 million tons of imports and 4 million tons of exports, with further investment planned to upgrade its export systems, the company said.
