Pakistan Minerals Investment Forum: Participants briefed upon Reko Diq reserves

ISLAMABAD: The Pakistan Minerals Investment Forum is continuing on its second day with a focus on Reko Diq reserves, ARY News reported.

A detailed session was held in Balochistan, focusing on the crucial Reko Diq mining project, with representatives from Reko Diq Mining Company sharing insights on the project’s feasibility.

Russell Howard, a representative of the mining company, stated that the Reko Diq mineral reserves span an area of 286 kilometers, rich in vast deposits of gold and copper.

He highlighted that geotechnical drilling has already been completed over 29 kilometers of the site, along with geo-capital drilling.

Russell Howard further revealed that area holds an estimated 5.9 billion tonnes of mineral resources.

The feasibility study for the first phase of the project has been approved, paving the way for future developments.

According to the mining company, production of gold and copper from the mine is expected to commence in 2028. The feasibility study indicates reserves of 26 million ounces of gold within the project area.

By 2028, the company aims to extract 240,000 tonnes of copper and 300,000 ounces of gold annually from the mine. In the second phase of the project, annual production is projected to reach 400,000 tonnes of copper and 500,000 ounces of gold.

Earlier, Chief Executive Officer (CEO) Barrick Gold Mark Bristow said Reko Diq copper-gold project would be the beacon that leads Pakistan into the race of the top global mining jurisdictions.

Barrick Gold CEO said Reko Diq copper-gold project will economically benefit Pakistan and will also create thousands of jobs.