Pakistan and Barrick Gold review progress on Reko Diq copper-gold project

Pakistan's Petroleum Minister Ali Pervaiz Malik met Barrick Gold Chairman John L. Thornton on Sunday to review progress on the Reko Diq copper-gold project and discuss the next phase of development. Reko Diq is one of the world's largest undeveloped copper and gold deposits, located in the southwestern province of Balochistan.

What is the current status of the Reko Diq copper-gold project?

Both sides reviewed ongoing efforts to advance the project and agreed to maintain close coordination to achieve key milestones, according to an official statement. Malik described Reko Diq as strategically important for Pakistan's mineral sector. Thornton reaffirmed Barrick's commitment and expressed appreciation for the Pakistani government's continued support.

Who owns the Reko Diq project?

Barrick Gold holds a 50 percent stake in the Reko Diq project. Three Pakistani federal state-owned enterprises jointly hold 25 percent, and the Government of Balochistan holds the remaining 25 percent. The ownership structure reflects the project's status as a joint venture between international and Pakistani public sector partners.

What economic benefits does Reko Diq offer Pakistan?

Malik said the project would help attract foreign investment, create jobs, and support socio-economic development in Balochistan. "Reko Diq is a flagship national project that will play a key role in attracting investment, generating employment opportunities, and accelerating socio-economic development in Balochistan," he said. The meeting concluded with both sides reiterating their commitment to move the project forward together.