TORONTO – Barrick Mining Corp. is slowing development at its Reko Diq project in Pakistan amid security concerns in the region.
The company says the decision comes as it continues a review of the project that it announced in February following an escalation of security risks and increased security incidents.
Barrick says the continued review will allow it to assess the evolving security situation, capital requirements, project financing, project scope and timeline. It is expected to continue until mid-2027.
The company says it expects that there could be significant increases to the previously disclosed total estimated capital budget and timeline for the project.
The previously disclosed total estimated capital cost of Phase 1 was between US$5.6 billion and US$6.0 billion, while the cost of Phase 2 was estimated at between US$3.3 billion and US$3.6 billion.
First production was targeted by the end of 2028.
This report by The Canadian Press was first published April 6, 2026.
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