Islamabad, Apr 8, 2025: Barrick CEO emphasized on Tuesday that the Reko Diq copper and gold initiative is set to become a shining symbol that will guide Pakistan onto the global mining landscape.
While delivering his remarks at the inauguration of the two-day Pakistan Minerals Investment Forum at the Jinnah Convention Centre in Islamabad.
Barrick CEO Mark Bristow described the Reko Diq project as a landmark achievement both for Barrick Gold and for Pakistan’s development vision.
According to him, this monumental endeavor is destined to position Pakistan among the world’s leading mining destinations.
He stressed that the Reko Diq mine is not only a strategic asset but also a significant game-changer for Pakistan’s economy, particularly for Balochistan, a region long awaiting socio-economic transformation.
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Bristow shared that the project, revived in 2022, now operates as a balanced joint venture split evenly between Barrick Gold and the governments of Pakistan and Balochistan.
This collaborative model represents a new chapter in responsible and mutually beneficial resource extraction.
Barrick CEO noted that Reko Diq is home to one of the globe’s most promising yet untapped copper-gold deposits.
With the technical assessment completed in 2024, studies have confirmed an impressive reserve of 15 million tons of copper and 26 million ounces of gold.
Once fully operational, the project aims to become one of the lowest-cost producers of copper globally, boosting national revenues and foreign investment.
Initial extraction is slated to begin in 2028, with yearly production targets set at 240,000 tons of copper and 300,000 ounces of gold.
In its second phase, output is projected to climb to 400,000 tons of copper and 500,000 ounces of gold per year.
In addition to its economic importance, Bristow pointed out the mine’s potential to generate massive employment.
During the construction phase alone, more than 7,500 jobs will be created, while operations will support around 4,000 permanent positions.
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He reaffirmed that local workforce inclusion remains a core principle of Barrick’s strategy in Pakistan. “We are just scratching the surface,” he added, noting that new mineral bodies are still being discovered in the Reko Diq area.
This forum, attended by over 300 international guests from nations including China, Turkiye, Saudi Arabia, and the UK, signals the launch of a fresh era in Pakistan’s resource sector.
According to Bristow, the Reko Diq project isn’t just a standalone mine it is a stepping stone to unlock a chain of new discoveries and opportunities across the country.
