Barrick solved the long-run 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.
Teams from Barrick and Pakistan are currently finalizing the framework agreement, the company said.
“Once this has been completed and the necessary legalization steps have been taken, Barrick will update the original feasibility study, a process expected to take two years,” it said in the statement.
The miner noted that construction of the first phase will follow the study, with first production of copper and gold expected in 2027-2028.
“During the negotiations, the federal government and Barrick confirmed that Balochistan (province where Reko Diq is located) and its people should receive their fair share of the benefits as part of the Pakistan ownership group,” chief executive Mark Bristow said.
Balochistan’s shareholding will be fully…
