Petroleum minister, Barrick chairman review progress on Reko Diq project

Federal Minister for Petroleum Ali Pervaiz Malik met John L. Thornton in Islamabad on Sunday to discuss progress and future development plans for the Reko Diq copper and gold project.

The meeting focused on ongoing development work, coordination among stakeholders and implementation milestones related to the mining project, which is considered among the world’s largest undeveloped copper and gold deposits.

During the discussion, Ali Pervaiz Malik described Reko Diq as an important project for Pakistan’s economy and mineral sector, saying it could help attract foreign investment, generate employment opportunities and support socio-economic development in Balochistan.

He said the government remained committed to facilitating large-scale mining projects aimed at strengthening Pakistan’s resource sector and export capacity.

John L. Thornton reaffirmed Barrick Gold Corporation’s commitment to the project and acknowledged support provided by the Government of Pakistan. He said continued coordination among all stakeholders was important for timely implementation of the project.

Barrick Gold Corporation is the operator of the Reko Diq project and is responsible for its technical and financial development.

Under the project’s ownership structure, Barrick holds a 50% stake, while 25% is owned by Pakistani federal state-owned enterprises and the remaining 25% by the Government of Balochistan.

Officials said both sides agreed to continue coordination on the project, although no new agreements or financial announcements were made during the meeting.