The Reko Diq copper and gold mine is poised to elevate Pakistan to the ranks of the world’s leading mining jurisdictions, according to Barrick Gold CEO Mark Bristow, who spoke at the Pakistan Minerals Investment Forum on Tuesday.
Barrick Gold, which holds a 50 percent stake in the project alongside the federal and Balochistan governments, views Reko Diq as one of the largest untapped copper-gold resources globally. Bristow emphasized that the project represents a significant milestone for both Barrick Gold and Pakistan.
The reconstitution of the Reko Diq project was finalized in 2022 under a 50-50 partnership structure. A completed feasibility study in 2024 confirmed substantial reserves, including 15 million tons of copper and 26 million ounces of gold.
Production at Reko Diq is expected to commence in 2028, with initial targets set at 240,000 tons of copper and 300,000 ounces of gold annually. The second phase of the project aims to expand output to 400,000 tons of copper and 500,000 ounces of gold per year.
The ongoing forum has attracted around 300 participants from various countries, including Turkiye, China, Saudi Arabia, the US, and the UK. Key sessions will focus on investment opportunities in major projects like Reko Diq and outline government strategies for the development of the mineral sector in Pakistan.
