ISLAMABAD: Pakistan has assured foreign investors of its “capacity and capability” to secure the multibillion-dollar Reko Diq copper-gold project after Barrick Gold ordered a comprehensive review following recent militant attacks in Balochistan.
Balochistan Chief Minister Sarfraz Bugti said the provincial and federal governments remain committed to safeguarding foreign investment in the strategically important mining venture. Barrick announced it would reassess all aspects of the project after coordinated attacks on January 30–31 heightened security concerns in the province.
Regarded as one of the world’s largest undeveloped copper and gold deposits, Reko Diq is central to Pakistan’s plan to boost mineral exports and attract foreign direct investment after years of economic strain. The project, jointly owned by Barrick and the federal and Balochistan governments, is expected to begin production in 2028. Officials estimate it could generate up to $70 billion in free cash flow and $90 billion in operating cash flow over its lifespan.
Speaking to Arab News, Bugti acknowledged that security remains a concern but stressed that the state machinery is fully functional. “The state is intact, the government is intact. There is a functional government and a functional state in Balochistan,” he said.
He revealed that authorities are redesigning security arrangements, including raising a dedicated protection force for mineral-rich areas and strengthening border controls. While admitting that recent attacks have affected investor perception, he rejected the notion of a security failure, stating that law enforcement agencies cleared most affected areas within hours.
Bugti also accused India of backing insurgent elements in Balochistan, citing the case of Kulbhushan Jadhav, whose arrest in 2016 on espionage charges remains a point of diplomatic contention.
Emphasising long-term stability, the chief minister said economic development and security measures must move in parallel. He underscored meritocracy and anti-corruption efforts as key pillars of his vision for sustainable growth in Balochistan.
