Reko Diq project: Barrick team arrives to assess security & procurement

ISLAMABAD: Representatives of Barrick Mining Corporation arrived here on Wednesday on an official visit to evaluate security protocols and procurement strategies for the RekoDiq copper-gold project in Balochistan. The delegation is planning to acquire state-of-the-art equipment and discuss expanding the company’s lending and credit frameworks.

Speaking to journalists, Managing Director of the Oil and Gas Development Company Limited (OGDCL)- a partner in the RekoDiq copper-gold project, Ahmed Hayat Lak, stated that a foreign delegation has arrived to review security arrangements. Under the project agreement, the review will determine whether security needs to be enhanced and what additional financing may be required. However, he emphasized that providing security remains the sole responsibility of the host country.

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Lak added that both sides will also discuss procuring robust equipment through a competitive bidding process.

Addressing concerns regarding the mining project’s lending, the Managing Director noted that during a recent meeting in Canada, lenders expressed satisfaction with the existing protocols, having already conducted their own security assessments before financing. Furthermore, he revealed that more lenders have shown keen interest in joining the mining venture.

The mine is operated by RekoDiq Mining Company (RDMC) with 50 percent shares owned by Barrick Mining Corporation, 25 percent by the federal government, and 25 percent by the Balochistan government.

Copyright Business Recorder, 2026