Barrick Mining Corporation has slowed development of the Reko Diq copper and gold project in Balochistan and is reviewing its plans, saying security conditions need to improve before full construction can begin.
“We are revisiting it because we need some sort of security improvement before we would embark on a full construction schedule at Reko Diq,” Barrick CEO Mark Hill said at the Mining Forum Americas.
Hill did not provide a new construction timeline or quantify the impact of the slowdown during his presentation.
The comments come as security remains a major concern in Balochistan, where militant activity has increased and security forces have carried out extensive counterterrorism operations. According to the report, Pakistan’s security forces conducted more than 40,000 intelligence-based operations nationwide in 2026, including over 31,000 in Balochistan.
Barrick operates the Reko Diq project and holds a 50 percent stake. The Balochistan government owns 25 percent, while Pakistani state-owned enterprises hold the remaining 25 percent.
The first phase of the project was initially estimated to cost $4 billion but was later revised to $5.6 billion. Total investment across the two phases is projected at about $7 billion, with the second phase estimated at $3.5 billion.
Reko Diq is expected to operate for decades and produce copper gold concentrate through an open pit mining and milling operation. Phase one is designed to process about 45 million tons of ore annually, with capacity potentially increasing to 90 million tons in the second phase.
The project is expected to employ about 7,500 people during peak construction and create around 4,000 long term jobs once production begins. A recent feasibility study put the mine life at 37 years, although the project has potential for further expansion.
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