Reko Diq to elevate Pakistan’s global mining profile, CEO Barrick Gold stated while addressing Pakistan Minerals Investment Forum.
Barrick Gold CEO Mark Bristow, speaking at the Pakistan Minerals Investment Forum in Islamabad, stated that the Reko Diq copper and gold project is poised to become a cornerstone of Pakistan’s mining industry and propel the country onto the global mining stage. He emphasized that the project represents a significant step forward for both Barrick and Pakistan.
Bristow said Reko Diq could become a transformative force for Pakistan’s economy, particularly benefiting Balochistan, one of its most underdeveloped provinces. The project, restructured in 2022, is a joint venture with equal stakes shared between Barrick Gold and the Pakistani federal and provincial governments, and it is considered one of the world’s richest undeveloped copper-gold deposits.
He revealed that a 2024 feasibility study confirmed the presence of 15 million tons of copper and 26 million ounces of gold in Reko Diq. He also noted that the site is likely to become one of the most cost-effective copper mining operations in the world.
Initial production from the mine is scheduled for 2028, targeting 240,000 tons of copper and 300,000 ounces of gold annually. In its second phase, output is expected to rise to 400,000 tons of copper and 500,000 ounces of gold per year.
Bristow emphasized that Reko Diq is just the beginning of exploration in the region, suggesting that further discoveries and investments are expected. He described the project as a “starter mine” in a region with much more untapped potential.
Earlier, Deputy Prime Minister Ishaq Dar noted in his address that Pakistan, rich in unexplored mineral resources, is ready to play a major role in reshaping the global supply chain. He highlighted Reko Diq’s location within the Tethyan Metallogenic Belt, one of the world’s major copper-gold regions.
Dar also stated that Pakistan is working to improve its regulatory and fiscal environment to attract investment in areas such as resource extraction, refining, infrastructure, and logistics, positioning itself as a modern and sustainable resource hub.
The Pakistan Minerals Investment Forum has attracted around 300 participants from countries including China, Turkey, Saudi Arabia, and the United States. The event aims to showcase major investment opportunities like Reko Diq while also presenting government initiatives to support the growth of the mining sector.
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