Canadian miner Barrick Gold Reports Major Growth. Gold & Copper Reserves Surge in Reko Diq project in Balochistan, Pakistan.

Canadian miner, Barrick Gold Corporation shared a press release on February 6, 2025 about Reko Diq project. Reko Diq is located in the Chagai District of Balochistan, Pakistan.

Increase in Gold Reserves

• Barrick’s gold reserves grew by 23%, reaching 89 million ounces at 0.99 grams per ton (g/t) after adjusting for 2024 production.
• The addition of Reko Diq’s gold resources helped increase reserves by 13 million ounces at 0.28 g/t.

Growth in Copper Reserves

• Barrick’s copper reserves increased by 224%, reaching 18 million tonnes at 0.45%.
• The Reko Diq feasibility study added 7.3 million tonnes of copper at 0.48%.

Project Timeline

• The feasibility study for Reko Diq was completed by the end of 2024.
• The first production is expected in 2028.

Economic Benefits

• The project is expected to generate around $74 billion in free cash flow over 37 years.
• During peak construction, the project will create about 7,500 jobs, and once operational, it will provide around 4,000 permanent jobs.

Production Capacity

• Once fully developed, Reko Diq is expected to produce 400,000 tonnes of copper and 500,000 ounces of gold per year.
• This project is expected to have a positive impact on the economy of Pakistan and Balochistan.