Reko Diq to Start Copper and Gold Production by 2028, Major Economic Boost Expected

Quetta:The production of copper and gold from the world’s largest reserves at Reko Diq is set to begin by 2028. Barrick Gold, the company overseeing the project, expects to initially extract 200,000 tons of copper concentrate and 250,000 ounces of gold annually from the mine.

Barrick Gold President and CEO, Mark Bristow, stated that the global demand for copper is expected to rise due to the increasing use of copper in electric vehicle batteries, alternative energy production, and growing electricity demand. According to Bristow, Reko Diq holds the largest known copper and gold reserves globally.

In the first phase of mining, development costs are estimated to reach $5.5 billion. By 2028, Reko Diq is expected to produce 200,000 tons of copper concentrate and 250,000 ounces of gold annually. Bristow explained that the copper content in Reko Diq is 0.53%, meaning that 5.30 kg of copper is found in one ton of ore.

Additionally, the second phase of mining expansion is projected to cost $3.5 billion, which will increase the annual production of copper concentrate to 400,000 tons and gold production to 500,000 ounces. Bristow emphasized that once the mining infrastructure is complete, the mine will produce 90 million tons of copper concentrate annually.

The anticipated increase in copper demand, particularly for use in electric vehicle batteries and sustainable energy production, is expected to significantly boost Pakistan’s economy. The expansion of copper production in Pakistan will lead to substantial economic benefits for the country in the near future.