Reko Diq Production Could Be Delayed to 2030

Reko Diq copper-gold project in Pakistan may face a two-year delay, possibly reaching completion in 2030, according to a report by Dawn. This comes as investors await improved security conditions in Balochistan and a potential easing of tensions in the Middle East. The Canadian mining company Barrick Mining, which owns 50% of the project, plans to resume full-scale development in mid-2027 after completing an internal review. However, the company has not yet announced this officially.

Despite the delay, all 700 permanent employees and approximately 2,000 contractual workers at the site remain employed. Research, administrative tasks, and community development projects continue to progress as planned. Over $1 billion has already been invested in the project.

Barrick Chairman John L. Thornton is set to visit Pakistan later this month to attend the Pakistan Minerals Investment Forum in Islamabad. The cost impact of a delay is currently being assessed, with estimates ranging from $8 billion to $10 billion if work resumes within a year, or even more if the delay extends beyond two years. A consortium of local companies has proposed acquiring a minority stake in the project, though an alternative estimate suggests a 10% cost increase, or approximately $450 million to $900 million.

Concerns have been raised that only 30 to 35% of the copper-gold output may be processed domestically, with the remainder shipped to Barrick's Australian facility. This could limit domestic value addition. Barrick initiated a formal review of Reko Diq in February 2026, extending its assessment period through early 2027. However, the company's CEO did not provide a revised construction timeline, stating that security improvements are needed before committing to a full construction schedule.