KARACHI: Canadian firm Barrick Mining Corporation has delayed its review of all aspects of the Reko Diq gold and copper project in Pakistan’s Balochistan for a year, a Barrick spokesperson said late Thursday, citing concerns about the project’s security.
The Canadian firm said last month the decision to review the project, including capital allocation, was made after a rise in security incidents in Balochistan, which has been the site of a decades-long insurgency that has intensified in recent years.
The review announcement came days after separatist militants, who stormed schools, banks and security installations, killed nearly 50 people in coordinated attacks in several districts across the mineral-rich province.
The Reko Diq gold and copper project in the region is owned 50 percent by Barrick, 25 percent by three Pakistani federal state-owned enterprises and 25 percent by the provincial government of Balochistan.
“Barrick continues to believe in the long-term value of Reko Diq,” a Barrick spokesperson said in emailed response to Arab News queries.
