Pakistan’s flagship Reko Diq mining project will remain unaffected by any corporate changes at Barrick Gold, senior officials of Oil and Gas Development Company Limited (OGDCL) said on Monday.
Addressing market concerns triggered by reports of a possible Barrick split or asset sales, OGDCL management stated during an analyst briefing that the Canadian miner has repeatedly assured Pakistani stakeholders that Reko Diq is a core, long-term holding and is not under consideration for divestment.
“Barrick has made it very clear to us — both formally and informally — that Reko Diq is a strategic priority and will not be impacted,” the company said.
OGDCL further highlighted the project’s robust governance framework involving multiple Pakistani government entities, which effectively rules out any surprise moves.
With first production targeted for 2028, OGDCL expects the mine to generate $150–200 million in average annual cash flow for the company from its interest in the federal 25% stake, marking one of the most significant non-oil revenue streams in Pakistan’s history.