Reko Diq is the world’s largest undeveloped mine of copper and gold which is located in the Chaghai District in Baluchistan, Pakistan.
It is the largest mine in the world because it has estimated reserves of 5.4 billion tonnes of copper and gold ore. However, a dispute case stopped the development of this project.
The CEO of Barrick Gold, Mark Bristow stated that the project will start production by the year 2028. He said, “The year 2028 is targeted for the first production from the giant copper and gold mine in Baluchistan province,”
He also mentioned the importance of this project and said, “this project is a significant new frontier of gold and copper in the world”.
Also, Mark explained that the company will finalize the feasibility study of the project by the year 2024. The company started and signed the project with previous partners in 2013 and finalized the feasibility study about legal, financial, and environmental matters. However, now they have to reset the feasibility study because of change of government and delay in different cases.
He said, “We have checked resources of this project, which are reliable, and the key thing to complete is to finalise the geotechnical work around the deposits. We need to continue the investment we have already started. This is one principle.”
He went on further to say, “We have a lot of data regarding environmental study. We want to refresh and validate the data in line with best international standards,”
Mark explained that this project will benefit all the parties as Barrick Gold owns 50% of the company, Baluchistan owns 25%, and independent stakeholders own remaining 25% of the company. It will also generate huge revenue for the company and Pakistan.
