The Reko Diq project, which hosts one of the world’s largest undeveloped copper-gold deposits, has been on hold since 2011 due to a dispute over the legality of its licensing process.
Barrick solved the long-running dispute earlier this year, reaching a preliminary out-of-court deal that cleared the path for a final agreement on how to run the mine and profit-sharing arrangements.
A favourable court decision is vital to securing parliamentary support for the project, which is the final approval Barrick would need to kick off construction at Reko Diq.
The proposed mine would be one of the largest foreign investments in Pakistan and one of Barrick’s key projects for this decade.
The Canadian gold giant plans to deliver production as early as 2027-2028 from Phase 1 at a cost of around $4 billion, with Phase 2 to follow in five years at a cost of roughly $3 billion.
The conceptual design calls for an open pit with a life of…
