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Loan adds to $300 million committed earlier

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Total IFC support now $700 million

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Total project cost is $6.6 billion; backed by mix of

international, domestic lenders

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Production expected by 2028

By Ariba Shahid

ISLAMABAD, June 13 (Reuters) - The International Finance

Corporation will provide a $400 million subordinated loan for

Pakistan's Reko Diq copper-gold mine, according to an IFC

disclosure on Friday.

The loan adds to a $300 million commitment announced in April,

bringing IFC's total financing for the project to $700 million.

The estimated cost of the mine is $6.6 billion, to be funded

through a mix of debt and equity from a consortium of lenders.

"The estimated total Project cost is $6.6bn, and it will be

financed using a combination of debt and equity," the disclosure

said, adding that other parallel lenders will provide the

remaining debt financing.

This type of loan, known as subordinated debt, is typically

repaid after other senior loans and helps absorb more risk,

making it easier for other lenders to invest.

Other financiers, including the U.S. EXIM Bank, Asian

Development Bank, Export Development Canada, and Japan's JBIC,

are also expected to join the financing package, project

director Tim Cribb told Reuters in April. Term sheets are

expected to close by early in the third quarter.

IFC chief Makhtar Diop said earlier this year that the

institution was "doubling down" on Pakistan, with a focus on

infrastructure, energy and natural resources.

Reko Diq, located in Balochistan, is one of the world's

largest undeveloped copper-gold deposits. It is being developed

by Barrick Gold ( B ), which holds 50%, with the remainder

split between Pakistan's federal and provincial governments.

Production is expected to begin in 2028. Barrick has projected

the mine will generate up to $74 billion in free cash flow over

its estimated 37-year life.