Pakistan, Barrick reaffirm coordination on Reko Diq development

Pakistan government and mining company Barrick have reaffirmed their commitment to advancing the Reko Diq Project after Petroleum Minister Ali Pervaiz Malik met Barrick Chairman John L. Thornton in Islamabad to review progress on the flagship mining project.

The meeting was held “to review progress and discuss future steps” regarding the project, according to a statement from the Petroleum Division.

“During the meeting, both sides exchanged views on the development of the project and discussed ongoing efforts aimed at advancing work on Reko Diq, which is among the world’s largest undeveloped copper-gold projects,” the statement read.

As per the details, Malik highlighted the strategic significance of the project for Pakistan’s economic growth and mineral sector development, stating that Reko Diq was a flagship national project that would play a key role in attracting investment, generating employment opportunities, and accelerating socio-economic development in Balochistan.

Meanwhile, Barrick chairman reaffirmed the commitment to the project and appreciated Pakistan government’s support in advancing the initiative, the statement said.

“Both sides agreed to maintain close coordination to achieve key milestones.”

Reko Diq is owned 50% by Barrick, 25% by three federal state-owned enterprises, and 25% by the Government of Balochistan.

“The meeting concluded on a positive note, with both sides reiterating their resolve to work together for the development of the Reko Diq project,” Petroleum Division said.