ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik held a meeting with John L Thornton, Executive Chairman of Barrick Gold, to review progress and discuss the next phase of development of the Reko Diq Copper-Gold Project.
According to a statement issued on Sunday, both sides exchanged views on the ongoing advancement of the Reko Diq project, which is considered one of the world’s largest undeveloped copper and gold reserves.
During the meeting, Malik emphasized the strategic importance of the project for Pakistan’s economic growth and the development of the country’s mineral sector. He stated that Reko Diq is a flagship national initiative that will significantly contribute to attracting foreign investment, creating employment opportunities, and accelerating socio-economic development in Balochistan.
The petroleum minister reiterated the government’s commitment to facilitating the successful execution of the project and ensuring long-term benefits for the country’s economy and local communities.
Barrick Gold Chairman John L Thornton reaffirmed the company’s commitment to the timely development of the project and appreciated the continued support extended by the Government of Pakistan in moving the initiative forward.
Under the ownership structure of the project, Barrick Gold holds a 50 percent stake, while 25 percent is owned by three federal state-owned enterprises and the remaining 25 percent by the Government of Balochistan, reflecting a collaborative partnership framework for the development of the mega mining venture.
