Barrick Commits to Reko Diq Copper Project
- remains committed to its Reko Diq copper mine in Pakistan, one of the world's largest undeveloped deposits of the metal, its interim CEO said on Tuesday, November 25,...
- The Reko Diq mine is estimated to contain approximately 5.9 billion tonnes of mineral resource, with an average copper grade of 0.5% and a gold grade of 0.3...
- Barrick's board had raised the possibility of splitting the company's assets, which could include an outright sale of the Reko Diq mine and the company's African assets, Reuters...
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Barrick Mining reaffirms Commitment to $7 billion Reko Diq Copper Mine in Pakistan
Table of Contents
Updated November 25, 2025, 18:53:59 EST
Background: The Reko Diq project
Barrick Mining Corp. remains committed to its Reko Diq copper mine in Pakistan, one of the world’s largest undeveloped deposits of the metal, its interim CEO said on Tuesday, November 25, 2025, following reports of a possible withdrawal. The project, valued at $7 billion, is located in Balochistan province and is held in an equal partnership between Barrick and the Pakistani government.
The Reko Diq mine is estimated to contain approximately 5.9 billion tonnes of mineral resource, with an average copper grade of 0.5% and a gold grade of 0.3 grams per tonne. Barrick’s official website details the project’s potential to contribute substantially to Pakistan’s economy.
Recent concerns and Barrick’s Response
Barrick’s board had raised the possibility of splitting the company’s assets, which could include an outright sale of the Reko Diq mine and the company’s African assets, Reuters reported on November 14, 2025, citing sources familiar with the company’s thinking. This news prompted concerns among investors and the Pakistani government.
“Barrick remains committed to the Reko Diq project and to Pakistan,” Mark Hill, Barrick’s interim CEO, told Reuters on November 25, 2025.This statement directly addresses the speculation and aims to reassure stakeholders of the company’s continued investment.
Project Timeline and Expected Production
The Reko Diq project has faced numerous delays and legal challenges over the years. Initial exploration began in the early 2000s, but development was stalled due to disputes over licensing and resource ownership. The current agreement, finalized in 2022, provides a framework for the project to move forward.
Production is currently expected to start by the end of 2028. The project is anticipated to produce approximately 200,000 tonnes of copper and 250,000 ounces of gold per year during its initial phase, with potential for expansion. Barrick’s project