LONDON: Global mining giant Barrick Mining has announced a comprehensive review of its Reko Diq gold and copper project in Balochistan, citing heightened security concerns in the region.
Speaking during a post-earnings call, Barrick Chief Executive Officer Mark Hill said the company’s board is reassessing all aspects of the project, including security arrangements, development timelines and capital allocation, following a recent rise in security incidents in the province.
Barrick said the review would commence immediately and that the company would provide an update once the process is completed. The move reflects growing concerns over operational risks amid the deteriorating security situation in Balochistan.
The Reko Diq project is owned 50 per cent by Barrick, with the remaining 50 per cent held by Pakistani stakeholders, including 25 per cent by three federal state-owned enterprises and 25 per cent by the Government of Balochistan.
Story by Reuters
