ISLAMABAD — Federal Minister for Petroleum Ali Pervaiz Malik met with Barrick Gold Chairman John L. Thornton on May 10, 2026, to review the progress of the high-stakes Reko Diq project. Both leaders agreed to maintain rigorous coordination to ensure the development of one of the world’s largest untapped copper-gold deposits remains on schedule.

Strategic Importance of the Reko Diq Project

During the high-level briefing in Islamabad, Minister Malik emphasized that the Reko Diq project serves as a cornerstone for Pakistan’s burgeoning mineral sector. He categorized the initiative as a "flagship national project" essential for stabilizing the national economy.

The Minister noted that the project is expected to:

• Attract significant foreign direct investment (FDI).

• Create thousands of high-quality employment opportunities.

• Accelerate socio-economic development within the Balochistan province.

Barrick Gold Reaffirms Long-Term Commitment

Chairman John L. Thornton expressed his confidence in the venture, praising the Government of Pakistan for its consistent support in navigating the project's complexities. Thornton reaffirmed Barrick’s commitment to meeting technical and operational milestones through a transparent partnership with local stakeholders.

The meeting concluded with a mutual pledge to streamline administrative hurdles, ensuring that the project transition from development to active extraction seamlessly.

Project Ownership and Partnership Structure

The Reko Diq project operates under a unique public-private partnership designed to ensure equitable wealth distribution. The current ownership breakdown includes:

• 50% Stake: Barrick Gold Corporation.

• 25% Stake: Three federal state-owned enterprises.

• 25% Stake: The Government of Balochistan.

This framework is intended to ensure that the mineral wealth of the region directly benefits both the provincial and federal tiers of the Pakistani government.