Pakistan and Barrick Gold Reaffirm Reko Diq Development Coordination
Pakistan and Barrick Gold Corporation have reaffirmed their coordination on the development of the Reko Diq copper and gold project, one of the largest undeveloped mineral deposits in the world, located in Balochistan's Chagai district. The reaffirmation signals continued alignment between the federal government and the Canadian mining major on the project's timeline and operational framework.
Reko Diq has long been considered a transformative asset for Pakistan's extractive sector, with projections suggesting it could generate tens of billions of dollars in revenue over its operational life. After years of legal disputes and suspended development, the project was restructured under a revised agreement in 2022, bringing Barrick back as the lead operator alongside Pakistani state stakeholders.
The latest coordination signal comes at a time when Pakistan is actively seeking to boost mineral exports as part of a broader strategy to strengthen its external account and reduce dependence on traditional revenue sources. Reko Diq, if developed on schedule, is expected to become a cornerstone of that strategy.
Development timelines, infrastructure requirements, and community engagement in Balochistan remain among the key variables that will determine the project's pace. Both parties appear committed to maintaining the momentum established under the restructured agreement, though formal production is still years away.
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