Barrick Says Reko Diq Needs 'Security Improvement' Before Full Construction Begins

Barrick Mining Corporation's chief executive said on September 29 that the company needs better security before it starts full construction at Reko Diq, Pakistan's flagship copper-gold project in Balochistan, a sign that the security review Barrick opened in February has not been resolved.

What Barrick said

Speaking at the Mining Forum Americas in Colorado, CEO Mark Hill said: "We need some sort of security improvement before we would embark on a full construction schedule," ProPakistani reported. Hill did not offer a new construction timeline or put a number on the financial impact of the slowdown.

Barrick opened its review in February after further security incidents in Balochistan. In March it said development would be slowed "but remain under active management" and that the review would run 12 months longer from July, citing security concerns in Pakistan and the wider Middle East, Miningmx reported. The company warned that previously disclosed budgets and timelines were likely to be affected. First production had been targeted for the end of 2028.

Balochistan's security situation

Reko Diq sits in a province hit hard by militant violence this year. Pakistan's security forces conducted more than 40,000 intelligence-based operations nationwide in 2026, over 31,000 of them in Balochistan, according to ProPakistani. We covered one recent round in our reporting on the 96-hour operations that killed 71 militants across the province.

The first phase of the project was initially estimated at $4 billion and later revised to $5.6 billion, with total investment across both phases projected at about $7 billion. Reko Diq has been presented by the government as a major source of foreign investment, at a time when this desk has tracked the decline in foreign direct investment flagged by OICCI and the IMF.

How Islamabad is responding

On May 10, Petroleum Minister Ali Pervaiz Malik met Barrick Chairman John L. Thornton in Islamabad and called Reko Diq a "flagship national project" that would attract investment and create jobs in Balochistan, Arab News reported. Thornton reaffirmed Barrick's commitment, and the two sides agreed to keep coordinating to reach key milestones.

Ownership is unchanged: Barrick holds 50%, three federal state-owned enterprises hold 25% and the Balochistan government holds 25%. In March, Barrick said it "continues to believe in the long-term value of Reko Diq."

Build Better Pakistan's Economy Desk is tracking the Reko Diq security review and Pakistan's broader foreign-investment pipeline.