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Construction|Copper|flotation|Gold|PROJECT
Construction|Copper|flotation|Gold|PROJECT
construction|copper|flotation|gold|project

Reko Diq copper/gold project, Pakistan – update

Image of Reko Diq deposit

21st October 2022

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Reko Diq copper/gold project.

Location
Balochistan, Pakistan.

Project Owner/s
Barrick Gold (50%), the Pakistan government (25%) and the provincial government of Balochistan (25%).

Project Description
Reko Diq is one of the world’s biggest undeveloped copper/gold deposits. It will be a multigenerational mine with a life of at least 40 years. The contemplated mine plan is based on four porphyry deposits within Barrick’s land package.

The project is envisaged to be developed in two stages, starting with an initial crush, milling and flotation circuit with a throughput capacity of about 40-million tonnes a year.

Phase 2, which will be built parallel to Phase 1, will add a further 40-million tonnes a year in throughput. There is an opportunity for a Phase 3 expansion.

Potential Job Creation
During peak construction periods, the project will employ 7 500 people and, once in production, will create about 4 000 long-term jobs.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Phase 1 is expected to cost $4-billion and Phase 2 $3-billion.

Planned Start/End Date
First production of copper and gold is expected in 2027 or 2028.

Latest Developments
Barrick Gold is completing the final agreements and legal steps that will allow for the development of the Reko Diq copper/gold mine.

Once the current legal processes have been finalised, Barrick will complete its update of the feasibility study.

Barrick and the federal and Balochistan governments earlier this year reached an agreement that provides for the reconstitution and restart of the project, which has been on hold since 2011.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Barrick Gold investor and media relations Kathy du Plessis, tel +44 20 7557 7738 or emailbarrick@dpapr.com.

Edited by Creamer Media Reporter

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