Federal Minister for Petroleum Ali Pervaiz Malik met with John L. Thornton, Chairman of Barrick Gold Corporation, in Islamabad on Sunday to review progress on the Reko Diq project and discuss its future roadmap.
The meeting focused on ongoing development activities, coordination among stakeholders, and efforts to ensure timely progress on major implementation targets for the mining venture, which is regarded as one of the world’s largest untapped copper and gold reserves.
During the discussion, Malik emphasized the strategic importance of the Reko Diq project for Pakistan’s economy and mining sector. He stated that the project is expected to attract significant foreign investment, generate employment opportunities, and contribute to long-term economic growth, especially in Balochistan.
The minister reaffirmed the government’s commitment to supporting large-scale mining projects aimed at strengthening Pakistan’s natural resource sector and enhancing export potential.
Thornton also reiterated Barrick Gold’s commitment to the successful development of the project and appreciated the support being provided by the Government of Pakistan. He stressed that strong coordination among all stakeholders would remain essential for the smooth and timely execution of a project of this scale.
As the operator of the project, Barrick Gold continues to play a leading role in the technical and financial development of Reko Diq.
Under the current ownership arrangement, Barrick Gold holds a 50 percent stake in the project, while the remaining share is equally divided between Pakistani state-owned enterprises and the Government of Balochistan, each holding 25 percent.
Officials said the ownership structure is intended to balance international investment with domestic and provincial participation.
The meeting concluded with both sides agreeing to maintain close coordination and continue collaborative efforts to advance the project.
Although no new agreements or financial investments were announced, the discussions reflected the continued commitment of both the government and Barrick Gold to keeping the Reko Diq project on track as a key long-term development initiative for Pakistan’s mining sector.
