Barrick's Balochistan Mining Venture Faces Security Concerns

International International News

Posted by AI on 2026-02-07 09:35:30 | Last Updated by AI on 2026-02-07 11:05:00

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In a significant development, Barrick Gold Corporation, the Canadian mining giant, has raised security concerns regarding its multi-billion-dollar mining project in the volatile region of Balochistan, Pakistan. This comes just months after a similar move by a Chinese state-owned enterprise, raising questions about the region's investment prospects.

The Reko Diq project, a joint venture, is a substantial undertaking with an estimated value of $3.3 billion. Barrick, a global leader in gold mining, holds a 50% stake, with the remaining ownership divided between Pakistani federal state-owned enterprises (25%) and the Balochistan government (25%). The project, aimed at extracting gold and copper, has been touted as a potential economic boon for the region. However, the security situation in Balochistan, a province marred by separatist insurgencies and terrorist activities, has cast a shadow over its future.

Barrick's concerns are not unfounded. The company has cited the recent attack on a convoy of the China-Pakistan Economic Corridor (CPEC) in Balochistan, which resulted in the death of a Chinese national, as a significant security risk. This incident, along with other security threats, has prompted Barrick to review its plans. The company's spokesperson stated that they are "committed to the safety of our employees and assets," emphasizing the need for a secure environment for such large-scale investments.

The future of the Reko Diq project now hangs in the balance. With security concerns taking center stage, the project's timeline and feasibility are under scrutiny. The Pakistani government, keen to attract foreign investment, must address these issues to ensure the project's success. As Barrick reconsiders its strategy, the mining industry watches closely, aware that the outcome could significantly impact future investments in the region.

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