While quashing rumors of backing out of a multibillion-dollar gold and copper project in Balochistan, Canadian firm Barrick Gold has assured Pakistan that it will continue development work despite the regional conflict.
Earlier, Barrick had stated that it would review the Reko Diq project, located in the Chaghi district of Balochistan, in the wake of security conditions following the Middle East war.
According to sources, the chairman of Barrick Gold visited Pakistan recently, where he emphasised that the company would push ahead with the mineral exploration project. Sources revealed that representatives of the company also arrived for an official trip focused on evaluating the security protocols and procurement strategies. The delegation aims to acquire state-of-the-art equipment and engage in talks regarding expansion of the company’s lending and credit frameworks.
The law enforcement agencies were busy taking measures to ensure seamless execution of the project, adding that both sides also discussed the procurement of necessary equipment through a competitive bidding process.
