Barrick Gold Reaffirms Commitment To Reko Diq Project In Pakistan Despite Security Concerns
• Barrick Gold says Reko Diq project remains on schedule
• Company dismisses speculation about withdrawing from project
• Security and procurement matters reviewed during recent visit
Canadian mining giant Barrick Gold has reaffirmed its commitment to the multibillion-dollar Reko Diq copper and gold project in Balochistan, assuring Pakistan that development work will continue despite regional security concerns.
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The clarification comes after reports and speculation suggested the company might reconsider its involvement in the project due to evolving security conditions following tensions and conflict in the Middle East.
Earlier, Barrick Gold had indicated that it was reviewing the Reko Diq project, located in Balochistan’s Chaghi district, in light of the regional security environment. However, company officials have now reassured Pakistani authorities that the project remains on track.
According to sources, Barrick Gold Chairman recently visited Pakistan and emphasized the company’s continued commitment to advancing the major mining venture. During the visit, discussions focused on project progress, security arrangements and future operational planning.
Sources said a delegation of company representatives also travelled to Pakistan to assess security protocols and review procurement strategies linked to the project’s next phase.
The visiting team is reportedly evaluating the acquisition of advanced equipment required for the development of the mine and is also holding discussions regarding the expansion of the company’s financing, lending and credit frameworks to support future operations.
Officials said law enforcement agencies are working closely with stakeholders to ensure the smooth implementation of the project and maintain a secure environment for ongoing and future activities.
Both sides also discussed plans for procuring necessary machinery and equipment through a competitive bidding process, aimed at ensuring transparency and efficiency in project execution.
The Reko Diq project is regarded as one of the world’s largest undeveloped copper and gold deposits and is considered a strategic investment for Pakistan. The project is expected to attract significant foreign investment, create employment opportunities and contribute substantially to the country’s export earnings and long-term economic growth.
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