ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik met with Barrick Gold Corporation Chairman John L Thornton in Islamabad on Sunday to review the progress and discuss the future direction of Reko Diq Project, one of the world’s largest undeveloped copper and gold deposits.
The meeting focused on ongoing development activities, coordination between stakeholders and ensuring steady progress on implementation milestones.
During the discussion, Malik highlighted the strategic importance of Reko Diq for Pakistan’s economy and mineral sector. He described the project as a flagship initiative that is expected to attract significant foreign investment, create employment opportunities and contribute to long-term socio-economic development, particularly in Balochistan. He emphasised that the government remains committed to supporting large-scale mining projects that can strengthen Pakistan’s resource base and export potential.
Barrick Chairman John L Thornton reaffirmed the company’s commitment to the project and appreciated continued support being provided by the Government of Pakistan. He noted that sustained coordination among all partners is essential for the successful and timely execution of such a large and complex mining venture.
Barrick Gold Corporation, which serves as the operator of the project, continues to play a central role in its development through its technical and financial involvement.
The ownership structure of Reko Diq reflects a joint partnership model, with 50 percent held by Barrick Gold Corporation, while 25 percent is owned by Pakistani federal state-owned enterprises and the remaining 25 percent by the Government of Balochistan.
This structure was designed to balance international investment with domestic participation and regional stakeholding.
The meeting concluded on a positive note, with both sides agreeing to maintain close coordination and continue working together to advance the project.
While no new agreements or financial announcements were made, the engagement underscored the shared commitment to keeping Reko Diq on track as a key long-term development initiative for Pakistan’s mining sector.
