Pakistan Petroleum Limited (PPL) has invested an additional Rs. 14 billion in the Reko Diq copper and gold project, raising its total investment in the development to Rs. 68.1 billion. The new equity injection comes as the project’s operator reviews security protocols and development plans following recent incidents in Balochistan, demonstrating continued commitment by state-owned entities despite emerging security concerns.
The additional investment was made through Pakistan Minerals Private Limited, the entity responsible for managing the federal government’s stake in Reko Diq. PPL confirmed in its latest financial report that the contribution amounted to Rs. 14.025 billion, increasing the company’s overall exposure to one of the largest mining projects in the region. Canada-based Barrick Mining Corporation holds a 50 percent stake in the project, while the remaining shares are split between Pakistani state-owned enterprises with 25 percent and the Government of Balochistan holding the other 25 percent.
Pakistan Minerals Private Limited functions as a special purpose vehicle to manage the federal share, coordinating financing, equity contributions, and engagement with international partners. The Reko Diq project continued site development during the first half of the current fiscal year, while the operator initiated a comprehensive review of security measures, development schedules, and capital expenditure following recent security incidents in Balochistan.
Officials have reiterated strong support for the project, with provincial authorities assuring investors that security arrangements are adequate to safeguard ongoing operations and future investments. Separately, PPL is expanding its energy portfolio across multiple exploration blocks, including international assets, and has entered strategic partnerships involving partial stake assignments in offshore exploration projects as part of its long-term growth strategy.
