Pakistan, Barrick Reaffirm Commitment to Advancing Reko Diq

Federal Minister for Petroleum Ali Pervaiz Malik met Barrick Gold Corporation Chairman John L. Thornton in Islamabad on Sunday to review progress on the Reko Diq project and discuss its future direction.

The meeting focused on ongoing development work, coordination among stakeholders, and efforts to ensure smooth progress on key implementation milestones for the mining project, which is considered one of the world’s largest undeveloped copper and gold deposits.

During the meeting, Malik highlighted the strategic importance of Reko Diq for Pakistan’s economy and mineral sector. He said the project is expected to attract major foreign investment, create employment opportunities, and support long-term socio-economic development, particularly in Balochistan.

The minister said the government remains committed to supporting large-scale mining initiatives that can strengthen Pakistan’s resource base and boost export potential.

Thornton reaffirmed Barrick Gold’s commitment to the project and appreciated the continued support being extended by the Government of Pakistan. He said close coordination among all stakeholders would be critical for the timely and successful execution of a mining venture of this scale.

Barrick Gold, which is the operator of the project, continues to play a central role in the development of Reko Diq through its technical and financial involvement.

Under the current ownership structure, Barrick Gold holds a 50 percent stake in the project. The remaining share is split equally, with 25 percent owned by Pakistani federal state-owned enterprises and 25 percent by the Government of Balochistan.

Officials said the structure is designed to combine international investment with domestic participation and provincial stakeholding.

The meeting concluded with both sides agreeing to maintain close coordination and continue working together to move the project forward.

No new agreements or financial commitments were announced, but the engagement underscored the government’s and Barrick’s continued focus on keeping Reko Diq on track as a major long-term development project for Pakistan’s mining sector.