Canada’s Barrick Gold has signed a partnership agreement with the government of Pakistan and the provincial gov-ernment of Balochistan, aiming to unlock the value of Reko Diq which the company calls one of the largest undeveloped copper and gold deposits in the world.
“The development of Reko Diq will make Balochistan the largest re-cipient of foreign investment in Pakistan. During peak construction periods, the project is expected to employ 7,500 people and once in production will create about 4,000 long-term jobs,” Barrick Gold said in a statement, adding that the company’s “policy of prioritizing local employment and suppliers will have a positive downstream impact on the local economy.”
Under the plan, the project will be operated and owned in 50 percent by Barrick, in 25 percent by Pakistani state-owned enterprises, and in 25 percent by the government of Balochistan, according to the statement.