- Barrick chief appreciates Pakistan’s continued support for mining venture.
- Both sides agree to maintain coordination on key mining project.
- Malik terms Reko Diq a flagship project for Pakistan’s mineral sector.
Federal Minister for Petroleum Ali Pervaiz Malik met with John L Thornton, chairman of Barrick Gold, in Islamabad on Sunday to review progress and discuss the future direction of the Reko Diq Project, one of the world’s largest undeveloped copper and gold deposits, The News reported.
The meeting focused on ongoing development activities, coordination between stakeholders and ensuring steady progress on implementation milestones. Both sides also agreed to continue cooperation for the completion of the project and discussed efforts to advance ongoing activities linked to its development.
During the discussion, Malik highlighted the strategic importance of Reko Diq for Pakistan’s economy, exports and mineral sector. He described the project as a flagship initiative expected to attract significant foreign investment, create employment opportunities and contribute to long-term socio-economic development, particularly in Balochistan. He said the government remained committed to supporting large-scale mining projects that could strengthen Pakistan’s resource base and export potential.
Thornton reaffirmed Barrick Gold’s commitment to completing the project and appreciated the continued support provided by the Government of Pakistan. He noted that sustained coordination among all partners was essential for the successful and timely execution of such a large and complex mining venture.
Barrick Gold Corporation, which serves as the operator of the project, continues to play a central role in its development through its technical and financial involvement.
The ownership structure of Reko Diq reflects a joint partnership model, with 50% held by Barrick Gold Corporation, while 25% is owned by Pakistani federal state-owned enterprises and the remaining 25% by the Government of Balochistan.
This structure was designed to balance international investment with domestic participation and regional stakeholding.
The meeting concluded on a positive note, with both sides agreeing to maintain close coordination and continue working together to advance the project.
While no new agreements or financial announcements were made, the engagement underscored the shared commitment to keeping Reko Diq on track as a key long-term development initiative for Pakistan’s mining sector.
