Barrick Mining has decided to slow development work on Pakistan’s flagship Reko Diq project and extend its review period, citing growing security concerns in Pakistan and the wider Middle East.
The move signals a cautious approach to one of the world’s largest untapped copper-gold reserves as regional instability continues to escalate.
Barrick said it will extend its ongoing review of the Reko Diq project by 12 months starting from July. The decision follows preliminary findings from a comprehensive review announced on February 5, 2026, which examined all aspects of the project, including capital allocation.
According to the company, the extended timeline will allow for a deeper assessment of potential risks and help refine the overall delivery strategy.
Development to slow but continue
Alongside the extended review, Barrick confirmed that development activity at the site will be slowed, though it will remain under active management.
The company emphasized that this is a strategic adjustment rather than a halt, aimed at ensuring long-term project viability under evolving conditions.
Barrick linked its decision directly to the recent escalation in security issues in Pakistan and across the Middle East. The company said these developments necessitated a more cautious evaluation of operational risks and investment planning for the large-scale mining project.
Impact on budgets and timelines
The extended review period and reduced pace of development are expected to affect previously disclosed budgets and project timelines.
A company spokesperson noted that earlier projections may no longer hold as the review continues and adjustments are made. Barrick added that it will provide further updates to the market when appropriate.
Located in Balochistan, Reko Diq is considered one of the world’s largest undeveloped copper and gold deposits, making it a critical project for Pakistan’s mining sector and foreign investment outlook.
Despite the slowdown, Barrick reiterated its confidence in the project’s long-term value.
“Barrick continues to believe in the long-term value of Reko Diq,” the company said, underscoring its commitment while navigating current challenges.
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