Barrick Gold Corporation’s President and Chief Executive, Mark Bristow, has expressed his belief that the Reko Diq project could be a game-changer for Balochistan, with the potential to reshape the local economy. The project is expected to produce 200,000 tonnes of copper and 250,000 ounces of gold annually for over 50 years from the largest underdeveloped copper-gold areas in the world. Bristow revealed in an interview with a private news channel that the project would require an investment of approximately $10 billion over the next eight to nine years,
which would significantly boost the mining industry and the local economy. He emphasized the company’s commitment to sustainable development, job creation, and community empowerment. Bristow further stated that the project is on track, and the teams are working well. He referred to it as a pioneering project, opening up new mining frontiers and delivering what should have been done in Balochistan long ago. During a meeting with Prime Minister Shehbaz Sharif last week,
Bristow disclosed that the feasibility study of the multibillion-dollar Reko Diq gold and copper mining project would be completed by the end of 2024. The PM was informed that the project would create 8,000 new jobs for the people of Pakistan, particularly in the host province, and that local and Balochistan domicile holders would be given priority in job opportunities. The company has also established three schools and provided vocational and technical training to one hundred people, including women, under its corporate social responsibility. The Prime Minister had reportedly said that the gold and copper mining project would usher in a new era of development and prosperity for Balochistan and the entire region. Plans were being made to enhance communication infrastructure, particularly railway lines, to take full advantage of the mineral potential of Balochistan. The company intends to complete the feasibility study update by the end of 2024, with the first production from the giant copper-gold mine scheduled for 2028
