Reko Diq, the biggest mine project of gold and copper, will be materialized. Barrick Gold Corporation the company which has been given the responsibility of Reko Dip, is sure to come up with the success by 2028.
The president and CEO of the company, Mark Bristow, said that the company plans to finish the project’s feasibility study by the end of 2024 and has targeted to give its first production in the year 2028. The giant project will be operated by Barrick which has 50 percent shares.
The government of Baluchistan Owens 25 percent and the remaining 25 percent share will be owned by the federal government. The shareholding structure is in line with Barricks policy of benefit-sharing partnership with the countries where it works.
In a three-day project review meeting in Quetta, Along with Barricks CEO and senior officials, the Chief Minister of the province, Abdul Quddus Bizemnjo and other leaders of political parties including Balochistan Awami Party, Jamiat Ulmea Islam (F), Pakistan Tahreek e Insaf were present. Barricks CEO gave the briefing.
He told the session about the extensive social and economic development opportunities which would be generated by the mine, the life of which would be more than 40 years. Riko Dip is a great gold and Copper mine which could be a source of great economic and social development not only in Baluchistan but in the whole country.
For the last decades, this project has been delayed due to some conflicts but now the final shape has been given and operation is going to start next year. Barrik is working to set up community development committees to identify priority projects, relating to food security, environmental management, education, healthcare and drinking water.
Barriks CEO, Bristo met with the Minister of State (Petroleum Division), Musaddiq Malik in Islamabad and reaffirmed Barriks goal to partner with Pakistan for decades to come to contribute meaningfully to the development of Pakistans mining sector.
The minister called the project a long-term, employment-creating by a leading multinational which Pakistan needed and it could help in developing both Baluchistan and Pakistan as a whole.