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Barrick Mining slows development at Reko Diq in Pakistan amid security concerns
Barrick said the review may raise the project’s capital budget and delay first production, which was targeted for the end of 2028.
- On Monday, April 6, 2026, Barrick Mining Corp announced it is slowing development at the Reko Diq project in Pakistan amid an ongoing security review initiated in February.
- Following an escalation of security incidents, Barrick initiated the project review in February to assess evolving conditions in the southwestern province of Balochistan, where Reko Diq is located.
- Estimates for Phase 1 ranged from US$5.6 billion to US$6.0 billion, while Phase 2 costs were between US$3.3 billion and US$3.6 billion; Barrick now expects significant increases to these figures.
- The review is expected to continue until mid-2027, potentially delaying the original target for First production by the end of 2028 as the company completes its strategic assessment.
- Barrick will use the extended review to assess project financing, scope, and capital requirements while addressing the evolving security situation, determining the project's path forward.
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Barrick Mining Corporation is slowing down the development of its Reko Diq project in Pakistan due to security concerns in the region.
·Montreal, Canada
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Middle East Tensions Delay Barrick's Reko Diq Project
Barrick Mining (TSX:ABX,NYSE:B) has delayed development of its massive Reko Diq copper project in Pakistan until mid-2027, citing regional security risks fueled by the war in the Middle East.The firm announced the sweeping delay to the project in an April 2 update, stating it is "reviewing all aspects of the project in light of the escalation of security risks and increased security incidents."Reko Diq, an equal partnership with Pakistani author…
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Total News Sources12
Leaning Left7Leaning Right0Center3Last UpdatedBias Distribution70% Left
Bias Distribution
- 70% of the sources lean Left
70% Left
L 70%
C 30%
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