News Desk:
ISLAMABAD, April 15, 2025 – The Reko Diq Joint Venture has reached a major milestone as shareholders approved the project’s updated Feasibility Study and conditionally sanctioned Phase 1 development capital. This approval is contingent on securing up to $3 billion in limited recourse project financing, paving the way for large-scale construction to begin in 2025. First production is targeted by the end of 2028.
In a strategic move, Fluor Corporation has been appointed as the lead Engineering, Procurement, and Construction Management (EPCM) partner. The company will work in close coordination with the Barrick Owner’s Team to deliver one of the world’s largest undeveloped copper-gold mining projects, located in Balochistan.
Barrick president and CEO Mark Bristow highlighted the importance of collaboration, stating, “This progress reflects the strength of our partnership with the governments of Balochistan and Pakistan. Fluor’s selection adds tremendous value, ensuring we maintain technical excellence, operational discipline, and socio-environmental responsibility.”
Fluor will be supported by experienced engineering consultants such as Knight Piésold, PRDW, and Vecturis—firms that have been integral to the Feasibility Study process. Equipment giants Metso, Weir, and Komatsu have also joined the project, supplying critical processing and mining machinery.
“This team brings global expertise in delivering copper projects in complex, remote environments—skills that align well with Barrick’s global track record,” Bristow added. “Our shared focus is not just on operational success but also on uplifting local communities and maximizing local content.”
The Reko Diq project is jointly owned by the governments of Pakistan and Balochistan and operated by Barrick Gold Corporation.
