KARACHI: Pakistan International Bulk Terminal Limited (PIBT) has signed an agreement with Reko Diq Mining Company (RDMC) for the handling and export of its copper-gold concentrates.

The signing follows PIBT’s execution of a supplemental implementation agreement with the Port Qasim Authority (PQA), enabling PIBT to handle, store and export copper-gold commodities, including minerals, metals and other natural earth resources, a statement said on Monday.

Reko Diq is one of the world’s largest copper-gold mining projects and is expected to significantly boost Pakistan’s long-term mineral exports and economic growth. Under the agreement, PIBT will serve as the primary logistics and export gateway for Reko Diq’s mineral output, reinforcing Pakistan’s position as a regional mineral hub. The project is scheduled to commence operations from 2028 onwards.

This partnership marks a significant step towards unlocking Pakistan’s mineral potential and strengthening its position in global commodity markets. Commenting on the occasion, Sharique Azim Siddiqui, CEO of PIBT, expressed his sincere appreciation to the Pakistan government, the Special Investment Facilitation Council (SIFC), the Ministry of Maritime Affairs and the Port Qasim Authority for their pivotal role in bringing the project to fruition. He emphasised that the 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.

Mark Hill, Barrick Mining Corporation’s group chief operating officer, added: “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, particularly the people of Balochistan and Pakistan.”

PIBT, located at Port Qasim, is Pakistan’s dedicated, fully mechanised multipurpose bulk-handling terminal. Developed with a $305 million investment in partnership with the International Finance Corporation (IFC), PIBT plays a critical role in supporting the country’s industrial, energy and trade infrastructure. PIBT operates in compliance with the World Bank Group’s Environmental, Health and Safety (EHS) guidelines, reinforcing its commitment to safety, sustainability and international best practices.

The terminal has a handling capacity of 12 million tonnes of imports and four million tonnes of exports per annum, with additional investment planned to upgrade its export system.