February 5, 2026 – Reuters
Canadian mining giant Barrick Mining has launched a comprehensive review of its flagship Reko Diq gold and copper project in Pakistan’s southwestern province of Balochistan, citing escalated security risks in the region. The review will examine key elements of the project, including capital allocation, security arrangements, development timeline and the overall budget, the company’s CEO Mark Hill said during a post-earnings call.
The decision to reassess comes amid a recent surge in violent incidents across Balochistan, where coordinated militant attacks on schools, banks and security facilities reportedly left nearly 50 people dead, prompting concerns about the safety of personnel and assets. Barrick did not provide a new timeline for the review’s completion but said it will issue an update once the process ends.
The Reko Diq project — considered one of the world’s largest undeveloped copper and gold deposits — is jointly owned, with Barrick holding a 50 percent stake while three federal state-owned enterprises and the Government of Balochistan each hold 25 percent.
Staff and investors will be watching closely for any developments, as the mine has been viewed as strategically important for both Pakistan’s economic aspirations in the minerals sector and Barrick’s global growth plans.
