Barrick Gold Corporation says the company would convert Pakistan’s Reko Diq into a world-class mine and the company would start production of gold and copper by 2027.
The chief executive officer (CEO) of the Canada-based mining firm said this week that agreements underlying the framework agreement were being finalized by teams from Barrick and Pakistan.
The Reko Diq project in Pakistan’s southwestern Balochistan province, which hosts one of the world’s largest undeveloped copper and gold deposits, was suspended in 2011 after Pakistan denied Barrick Gold and Chile’s Antofagasta a license to develop it.
An agreement reached between the Government of Pakistan, the provincial government of Balochistan and Barrick earlier this year provides for the reconstitution and restart of the project, which has been on hold since 2011. It will be operated and owned 50 percent by Barrick, 25 percent by the Balochistan government and 25 percent by the Pakistani state-owned enterprises.
“The definitive agreements underlying the framework agreement are currently being finalized by teams from Barrick and Pakistan,” Barrick CEO Mark Bristow said at a press conference in Islamabad.
“Construction of the first phase will follow that with the first production of copper and gold expected in 2027-28.”
Bristow said Barrick would bring capital and technology to convert Reko Diq into a world-class mine and transform Balochistan.
“The project will bring in $10 billion investment in Pakistan, out of this, $4 billion in the first phase till 2027, then $3 billion during the second phase and another $3 billion in the third phase,” he said.
Subject to the updated feasibility study expected in two years, Bristow said, Reko Diq is envisaged as a conventional open pit and milling operation, producing a high-quality copper-gold concentrate.
“It will be constructed in two phases, starting with a plant that will be able to process approximately 40 million tonnes of ore per annum which could be doubled in five years,” he said.
With its unique combination of large-scale, low strip and a good grade, Reko Diq will be a multi-generational mine with a life of at least 40 years, according to the Barrick CEO.
During the negotiations, he said, the Pakistani government and Barrick agreed that Balochistan and its people should receive their fair share of the benefits as part of the Pakistan ownership program.
“The project will have 100 percent Pakistani workers who will be first trained by Barrick for the mining job,” Bristow said. “During the peak construction, the project is expected to employee 7,500 people and once in production it will create 4,000 long-term jobs.”
Pakistan’s Finance Minister Ismail said the development of Reko Diq represented the largest direct foreign investment in Balochistan and one of the largest in Pakistan.
“Like Barrick, we believe that the future of mining lies in mutually beneficial partnerships between host countries and world-class mining companies,” Ismail was quoted as saying in a Barrick statement.
“The Reko Diq agreement exemplifies this philosophy and also signals to the international community that Pakistan is open for business.”
The finance minister said his government was looking forward to Barrick Gold’s investment in the copper and gold mine. “I believe this investment is going to be transformational for Balochistan and Pakistan,” he said on Twitter.
Bristow said multiple social welfare programs for the people of Balochistan would be initiated in education, healthcare and food security as well as for the provision of potable water in a region where groundwater has a high saline content.
“This includes an upfront social development spend of up to $3 million in year one and up to $7 million in year two during the feasibility study update,” the Barrick CEO said.
“One percent of capital during construction phase [and] 0.4 percent of revenue thereafter on an annual basis would also go to the social welfare of the local public.”
He said the unique feature of the agreement was that the Balochistan government would start receiving royalty of the project before the start of operations.
“The Balochistan government will get up to $5 million in the first year, $7.5 million in the second year and $10 million annually from the third year till commercial production is achieved,” Bristow said.
“The Reko Diq agreement also signals to the international community that Pakistan is open for business,” he added

Onshore wind farms can have a considerable impact on the landscape because they often require more land than other power plants and must be erected in remote and rural regions. Wind turbines also produce noise, which can reach 45 decibels (dB) at a residential distance of 300 meters (980 feet); however, at 1.5 kilometers (1 mile), most wind turbines become inaudible. Loud or continuous noise causes stress, which can lead to diseases. When correctly installed, wind turbines produce no noise that is harmful to human heal.
Wind power does not require water for continuous operation and emits very few emissions that are directly related to the generation of electricity. Wind turbines produce small amounts of carbon dioxide, carbon monoxide, Sulphur dioxide, nitrogen dioxide, mercury, and radioactive waste when they are disconnected from the electric grid, in contrast to fossil fuel and nuclear energy station fuel generation, respectively.
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Blades of modified wind turbines are composed of composite plastic/fiberglass designs with a service life of fewer than 20 years. There was no cost-effective technique or There is a market for these old blades to be recycled. as of February 2018, hence the most prevalent disposal method is to transport them to landfills. Other possibilities Included in the disposal of the blades are incinerating them or grinding them into powder, but both of these techniques are not only costly but also inefficient and waste energy. Although the foundation of the building, which is normally composed of reinforced concrete, and the blades cannot be recycled, up to 80% of the wind turbine construction can be recycled. Alternatively, these turbine structural components that are difficult to recycle into new turbines might be repurposed and utilized in various ways. The blades could potentially be recycled into building materials and structural components, such as aggregate in concrete utilizing composite material made from the blades. According to existing research, turbine blades could be successfully poles that have been reused as electrical transmission poles because their strength and structural stability are comparable to that of traditional materials. Roofs for small houses have been made from blade sections., and these structures exceed building code standards. This could prove to be a practical solution to reuse blade components without requiring considerable processing.
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Farming and cattle grazing are still possible on the property. Wind farms have little impact on cattle. Livestock will graze right up to the base of wind turbines and will often graze right up to the base of wind turbines and utilize them as rubbing posts or for shade, according to international experience.
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Wind farms may have an impact on the weather in their near surroundings. The turbulence created by spinning wind turbine rotors enhances the vertical mixing of heat and water vapor, which has an impact on downwind meteorological conditions, including rainfall.n