Barrick Mining expresses interest in mineral processing industries in Karachi, Gwadar
The delegation from the Barrick Mining Corporation on Friday expressed strong interest in investing in the establishment of mineral processing industries in Karachi and Gwadar. The development came as the delegation, led by Chairman John Thornton, held a meeting with Prime Minister Shehbaz Sharif in Islamabad, a statement by the Prime Minister’s Office (PMO) said on X. According to the PMO, the…
On Friday, the Barrick Mining Corporation delegation expressed keen interest in investing in mineral processing industries within Karachi and Gwadar. This came after a meeting with Prime Minister Shehbaz Sharif, as per the Prime Minister's Office (PMO). The delegation, led by Chairman John Thornton, praised the PM and the government for organizing a minerals conference, a significant step towards mineral development in Pakistan.
"The delegation expressed strong interest in investing in the establishment of mineral processing industries in Karachi and Gwadar," the PMO's statement affirmed.
Prime Minister Shehbaz highlighted Pakistan's abundance in natural resources and mineral wealth, emphasizing the government's top priority to harness these resources for the province's development and the prosperity of its people. Major projects like Reko Diq are expected to create new employment, skills development, and economic growth opportunities for Balochistan's people.
The Reko Diq project, one of the world's largest underdeveloped copper-gold deposits, is anticipated to generate substantial free and operating cash flows.
The PM further confirmed Pakistan's commitment to utilizing its vast mineral resources and creating new global investment opportunities. He also noted that the Reko Diq project's success would set benchmarks for future mineral investments in Pakistan, provided the government ensures a favorable environment for trade, investment, infrastructure, and modern technology.
Balochistan's natural resources and mineral wealth were discussed as potential assets for the province's development, better livelihoods, and increased employment opportunities.
The meeting also addressed policy, regulatory, and infrastructure frameworks conducive to the mineral sector in Pakistan. Barrick Mining Corporation's participation in the Pakistan Minerals Investment Forum 2026 was welcomed. The discussion extended to encouraging Barrick's expertise and experience to bolster Pakistan's mineral sector beyond Reko Diq.
The Reko Diq copper-gold project, owned jointly by Barrick Mining Corporation and the federal and Balochistan governments, could potentially face a two-year production delay due to improved security concerns in Balochistan and the Middle East crisis.
Written by urgent.news from Dawn's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
