Barrick Gold Company’s Reko Diq project represents a significant opportunity for the economic transformation of Balochistan and Pakistan. With its potential to create jobs, stimulate economic growth, and contribute to sustainable development, the project holds promise for the future prosperity of the region. By fostering strong partnerships and upholding responsible mining practices, Barrick Gold has the potential to make a lasting and positive impact on the local community and the broader economy.

This fully funded interest in the mine signifies a strategic partnership between Barrick Gold and the province of Balochistan, with the mutual goal of driving economic growth and sustainable development in the region. As the project progresses towards its targeted production date in 2028, it is essential for all stakeholders, including the government, local communities, and industry partners, to collaborate closely to ensure the successful implementation of the Reko Diq project. This partnership will not only maximize the economic potential of the project but also ensure that the benefits are shared equitably among all parties involved.

To generating economic benefits, the project will create employment opportunities, promote regional economic growth, and invest in development programs that will uplift the local community. The project’s focus on prioritizing the employment of local residents and host country nationals is commendable and aligns with Barrick’s commitment to responsible mining practices. The financial structure of the Reko Diq project, with Balochistan’s stake in the profit set at 25%, ensures that the province will benefit from the project’s success without having to bear the financial burden of its construction and operation.

The construction of the project is expected to be carried out in two phases, with a combined process capacity of 80 million tonnes per annum. The scheduled commencement of production in 2028 indicates the long-term commitment of Barrick Gold to the sustainable development of the project. The economic and social benefits that the Reko Diq project is expected to bring to Balochistan and Pakistan are substantial. With a projected operational life of at least 40 years, the project will be a major contributor to Pakistan’s economy.

The Reko Diq project, one of the largest undeveloped copper-gold projects in the world, holds immense potential for the economic development of Balochistan. With Barrick Gold as the majority owner, along with the participation of federal and provincial entities, the project is poised to bring about significant benefits to the local community and the broader Pakistani economy. The project’s reconstitution in December 2022 was a crucial step towards its development into a world-class, long-life mine that will substantially expand Barrick’s copper portfolio and contribute to the well-being of its stakeholders in Pakistan. The project scope of Reko Diq is ambitious, with plans for a truck-and-shovel open pit operation and processing facilities that will produce a high quality copper-gold concentrate.

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