Reko Diq launch in Pakistan may be delayed until 2030 — Dawn
Investors in Pakistan’s Reko Diq copper and gold project may postpone the start of production from 2028 to 2030. The reasons cited are the security situation in Balochistan province and the war in neighboring Iran, Dawn reports, citing government sources and industry representatives.
Canadian company Barrick Mining is conducting an internal review of the project, which it began in February 2026. At that time, the company announced a slowdown in development and extended the assessment until early 2027. According to the publication, full-scale development may resume in mid-2027, but Barrick has not announced an updated construction schedule.
Work at the site continues
Despite the slowdown, project management retained all 700 permanent employees and about 2,000 contract workers at the site. At the same time, some contracts with third-party service providers were allowed to expire.
Company sources said that research, administrative work, and community development projects are continuing as usual. Barrick’s chief executive previously said the company needed an improved security situation before moving to a full construction schedule. Representatives of Barrick, Pakistan’s federal authorities, and the Balochistan government did not provide Dawn with prompt comments.
More current news is available on the UA.News Telegram channel Telegram.
Investment and cost estimates
Barrick Mining owns 50% of the project. The remaining 50% is split equally between the Balochistan government and three Pakistani state-owned companies: Pakistan Petroleum, Oil and Gas Development Company, and Government Holdings Private.
The estimated investment in the first phase of the project has risen from $4 billion to $5.6 billion. The second phase is estimated to require another $3.5 billion, bringing total capital expenditure to about $9.1 billion.
Industry sources differ in their estimates of possible cost increases due to the delay. A private-sector representative associated with another mining project in Balochistan suggested that costs could rise by $8–10 billion. Another source associated with Reko Diq Mining Company called that estimate overstated and put the possible increase at no more than 10%, or $450 million to $900 million.
The project involves open-pit mining and ore processing. During the first stage, 45 million tonnes of ore per year are planned to be processed, rising to 90 million tonnes after the second phase. During peak construction, Reko Diq is expected to create 7,500 jobs and, after launch, support about 4,000 permanent jobs.
