ISLAMABAD: Barrick Gold President and Chief Executive Officer Mark Bristowhas announced that the Reko Diq copper-gold mining project in Balochistanis expected to generate approximately $74 billion in free cash flow duringits 37-year mine life.
Speaking at the official restart of the feasibility study update, Bristowdescribed Reko Diq as one of the world’s largest undeveloped copper-golddeposits, capable of placing Pakistan among the top ten global copperproducers once fully operational.
The project, jointly owned by Barrick Gold and the Government of Pakistan,is projected to create thousands of jobs and contribute significantly toforeign exchange reserves through substantial exports of copper and goldconcentrates.
Bristow emphasised that the revised agreement signed last year ensuresequitable benefit-sharing, with Pakistan retaining 50 per cent ownershipthrough federal and provincial entities while Barrick operates the mine.
Construction activities are scheduled to commence in 2026, with firstproduction targeted for 2028. The mine is expected to process 100 milliontonnes of ore annually at peak capacity.
The project has already attracted international attention, with SaudiArabia expressing interest in acquiring a stake. Officials believe Reko Diqcould become a cornerstone of Pakistan’s mining sector revival.
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Local communities in Chagai district are anticipated to benefit fromimproved infrastructure, education, and healthcare facilities as part ofBarrick’s comprehensive social development programme.
Analysts view the $74 billion projection as conservative, noting thatrising global demand for copper driven by the energy transition could pushactual returns significantly higher over the project’s lifespan.
Source:www.barrick.com/English/news/news-details/2025/reko-diq-project-restart-signals-new-era-for-pakistans-mining-sector/default.aspx”>https://www.barrick.com/English/news/news-details/2025/reko-diq-project-restart-signals-new-era-for-pakistans-mining-sector/default.aspx
