Barrick Gold is pausing development of its massive Reko Diq copper-gold project in Pakistan for one year, citing heightened security threats linked to the Middle East conflict and deteriorating conditions in the South Asian nation.
In internal correspondence reviewed by the Financial Times, the company stated it must reassess potential impacts and delivery strategy before proceeding. Development activity and associated spending will be scaled back starting July.
Barrick has not publicly commented beyond the disclosed communication with its Pakistani equity partners and the local project operator.