Barrick Gold wants to invest $7bn to revive the mining project, Reko Diq

Experts believe project contains one of the world’s largest untapped reserves of copper and gold.
Barrick and Pakistani authorities say Reko Diq will not only be Pakistan’s largest foreign fixed investment

It will be a vital source of copper — a key component for the world’s energy transition — at a time when global supplies are barely likely to meet demand.

Reko Diq is one of the bigger copper-gold undeveloped projects in the world,” said Mark Bristow, chief executive of Barrick.
Minning expected to start from 2028 subject to an ongoing feasibility study.

. Bristow argues that the project, in which Barrick has a 50 per cent stake alongside the Pakistan and Balochistan governments, will bring much-needed development to the region.

Another factor that could help steer the Reko Diq project is the presence of a new investor. Saudi Arabia’s Public Investment Fund and state mining company Ma’aden have expressed interest in a stake.