Pakistan has reviewed progress on the major Reko Diq Copper-Gold Project during a meeting between senior government officials and Barrick Gold leadership. According to Beyond Time News, both sides discussed development work and future investment plans for one of the world’s largest undeveloped mineral reserves.
Strategic Project for Pakistan’s Economy
Federal Minister for Petroleum Ali Pervaiz Malik met with John L. Thornton to review ongoing progress on the project.
Officials described Reko Diq as a key national project that can strengthen Pakistan’s mining sector. They also said it could attract foreign investment and create employment opportunities, especially in Balochistan.
Investment and Development Plans
Both sides exchanged views on how to speed up development work. They also discussed ways to meet future project milestones.
According to Beyond Time News, Barrick Gold reaffirmed its commitment to the project. The company also appreciated Pakistan’s continued support for the development process.
Ownership Structure of Reko Diq
Officials confirmed the ownership structure of the project as follows:
- 50% held by Barrick Gold
- 25% held by Pakistani federal state-owned enterprises
- 25% held by the Government of Balochistan
This partnership model is designed to ensure shared investment and long-term development benefits.
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Economic Importance Highlighted
Officials said Reko Diq is expected to play a major role in boosting Pakistan’s economy. It is also seen as an important driver for industrial growth and regional development.
They added that the project could improve infrastructure and support long-term socio-economic progress in the region.
Broader Investment Interest
According to Beyond Time News, Prime Minister Shehbaz Sharif has also highlighted growing international interest in Pakistan’s mining sector.
He recently welcomed Australian interest in trade and investment, especially in agriculture, livestock, and mineral development.
Officials said Reko Diq continues to stand out as a major example of Pakistan’s untapped mineral potential.
Outlook
The meeting ended on a positive note, with both sides agreeing to continue close coordination. Authorities believe steady progress on Reko Diq could significantly strengthen Pakistan’s long-term economic outlook.
