Barrick Mining is slowing operations at its Reko Diq copper and gold project in Pakistan due to security challenges in the region and the broader Middle East.
This decision follows an earlier statement, made in February 2026, about reviewing the project amidst increasing security incidents in Balochistan, where the project is situated.
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The company has extended this review period by 12 months from July 2026 to evaluate potential impacts and adjust its delivery strategy for Reko Diq.
The Reko Diq site is said to be among the world’s largest untapped copper-gold deposits, with ownership split between Barrick (50%), three federal state-owned enterprises (25%) and the Government of Balochistan (25%).
Of Balochistan’s share, 15% is fully funded, while 10% is on a free carried basis.
Located in the Chagai district, Reko Diq lies close to Afghanistan and Iran.
In December 2022, Barrick completed the reconstitution of Reko Diq, aiming to transform it into a long-life mine that could significantly enhance its copper portfolio while benefitting local stakeholders.
Despite the current slowdown, Barrick remains committed to actively managing ongoing development activities, acknowledging that budgets and timelines might be affected.
The company said in a statement: “Barrick continues to believe in the long-term value of Reko Diq.”
Barrick’s share price witnessed a 3.2% dip in New York following declines in the gold market but managed to pare losses, with the shares trading 0.4% lower by mid-morning, reported Bloomberg.
The project has been a focal point for Barrick for years, with plans dating back to 2011 under former CEO Mark Bristow’s leadership. He prioritised Reko Diq to increase Barrick’s copper exposure.
Security issues have intensified in Pakistan, especially in Balochistan, where insurgent activity reached a decade-high last year.
In December 2025, Barrick regained operational control of the Loulo-Gounkoto mine.
