Ali Pervaiz Malik, Federal Minister for Petroleum, held a meeting on Sunday with John L. Thornton to review progress and discuss future plans regarding the Reko Diq copper-gold project.
According to an official statement, both sides exchanged views on the ongoing development of the project and discussed efforts aimed at accelerating work on Reko Diq, which is considered one of the world’s largest undeveloped copper-gold deposits.
Reko Diq termed key project for economic growth
During the meeting, Ali Pervaiz Malik highlighted the strategic importance of the project for Pakistan’s economy and mineral sector.
He described Reko Diq as a flagship national project that would help attract foreign investment, create employment opportunities and support socio-economic development in Balochistan.
The minister said the successful development of the mining project could significantly strengthen Pakistan’s mining and exports sector in the coming years.
Barrick reaffirms commitment to project
Barrick Gold Chairman John L. Thornton reaffirmed the company’s commitment to the project and appreciated the continued support of the Government of Pakistan.
Both sides agreed to maintain close coordination to achieve important milestones related to the development of the project.
Ownership structure of Reko Diq
According to the official details, the Reko Diq project ownership is divided among multiple stakeholders.
Barrick owns 50 percent of the project, while 25 percent is held by three federal state-owned enterprises. The remaining 25 percent stake belongs to the Government of Balochistan.
Officials said the ownership structure reflects a strong partnership framework aimed at ensuring smooth development of the project.
The meeting concluded on a positive note, with both sides reiterating their commitment to work together for the successful execution of the Reko Diq copper-gold project.