Islamabad, April 09: Mark Bristow, President and CEO of Barrick Gold Corporation, declared the Reko Diq copper-gold project a transformative milestone for Pakistan, calling it a “beacon” that could position the country among the world’s leading mining nations.
Speaking at the Pakistan Minerals Investment Forum 2025 (PMIF25), Bristow underscored the strategic and economic importance of the project not only for Barrick Gold but also for Pakistan’s long-term development, particularly in Balochistan.
“Reko Diq is a flagship project — a joint venture that demonstrates what is possible when the global private sector and national interests align. This mine will not just dig minerals; it will build a legacy,” Bristow remarked.
Highlights from the CEO’s Remarks:
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Massive Resource Base:
The 2024 feasibility study confirms 15 million tons of copper and 26 million ounces of gold in reserves, making Reko Diq one of the largest undeveloped copper-gold deposits in the world. -
Shared Ownership:
The restructured 2022 agreement ensures a 50-50 partnership between the Government of Pakistan (representing the people) and Barrick Gold, emphasizing equitable value sharing. -
Timeline & Output:
Production is expected to begin in 2028, with initial output targets of:-
240,000 tons of copper
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300,000 ounces of gold
A second phase will later scale up output.
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Economic Impact & Jobs:
The project is forecasted to create:-
Thousands of jobs during construction
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4,000 long-term employment opportunities
Barrick has committed to prioritizing local hiring and training, further boosting the socioeconomic profile of the project.
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Long-Term Vision:
Bristow called Reko Diq “just a starter mine,” noting that significant unexplored mineral potential exists throughout Pakistan, especially in Chagai and adjoining regions.
“We believe this project could outlast this century, not just as a mine, but as a model for sustainable development.”
Government Support
Earlier at the forum, Petroleum Minister Ali Pervaiz Malik opened the event by highlighting Pakistan’s drive to position itself as a minerals investment destination, attracting over 300 international stakeholders.
The Minister emphasized that projects like Reko Diq are part of a broader policy shift aimed at:
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Enhancing investor confidence
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Streamlining regulatory processes
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Leveraging Pakistan’s critical mineral reserves for long-term growth
The message from PMIF25 is clear: Pakistan is open for mining, and Reko Diq is its crown jewel.
