Overview
- Interim CEO Mark Hill said Barrick remains committed to Reko Diq and is targeting first production in 2028.
- Pakistani officials and project advisers say financial close is expected within two weeks for roughly $3.5 billion, with documentation underway and a ceremony planned in January.
- Lenders including the International Finance Corporation and the Asian Development Bank are organizing a financing package exceeding $2.6 billion to support the project.
- Media reports of a potential Barrick asset split that could involve Reko Diq remain unconfirmed, and the company has publicly countered sale speculation.
- The $7 billion joint venture in Balochistan faces persistent security risks and requires railway upgrades to move copper concentrate to Karachi for processing.