In an interview with Pakistani digital media outlet Dawn News, Bristow confirmed that the starter mine is scheduled for completion by 2029. A second phase, requiring an additional investment of $3.5 billion, is projected to double production, he added.
Reko Diq is a critical component of Barrick’s strategy to expand its footprint in copper, a metal central to the global energy transition. The project is located in the Chagai mountain range, part of the Tethyan Magmatic Arc, known for its rich copper-gold deposits.
Barrick has long maintained that Reko Diq is one of the world’s largest undeveloped copper-gold prospects. It also boasts a high copper grade of 0.53%, meaning that for every tonne of ore mined, about five kilograms of copper can be extracted. Once the expansion is complete, the mine is expected to process over 90 million tonnes of ore annually.
The mine is estimated to have reserves lasting…
