Work on Reko Diq Copper Project Continues Despite Security Challenges; Production Expected by 2028, Says Barrick CEO

Quetta — **Barrick Mining Corporation** remains committed to the **Reko Diq copper project** in Pakistan, one of the world’s largest untapped copper reserves, according to **Barrick interim CEO Mark Hill**.

Located in a remote area of **Balochistan**, the **$7 billion project** involves an equal partnership between Barrick and Pakistani authorities, with **production expected to commence by the end of 2028**, Reuters reported.

Hill acknowledged that **security in the province poses challenges** and highlighted the need to **upgrade the railway line** to transport copper concentrate to Karachi for processing.

International lenders, including the **International Finance Corporation (IFC)** and the **Asian Development Bank (ADB)**, are preparing a financing package exceeding **$2.6 billion** for the project. Reko Diq added **1.3 million ounces of gold reserves in 2024**, and the **first phase is expected to produce 200,000 tons of copper annually**, with output projected to double in later phases.

Over its **37-year lifespan**, the project is expected to generate **more than $70 billion in free cash flow**. Both Barrick and Pakistan have emphasized the project’s strategic importance, with Pakistan viewing it as a cornerstone of its **mineral policy**, and Barrick considering it a key long-term investment. After resolving previous legal disputes, Barrick returned to Pakistan in 2022, making **Reko Diq a flagship investment for the country**.