Barrick reaches agreement with Pakistan, Balochistan government to reconstitute Reko Diq Project

Company

Barrick Gold Corporation

Government

Pakistan Government

Law Firm / Organization
King & Wood Mallesons

Government

Balochistan Government

Law Firm / Organization
King & Wood Mallesons

Company

Antofagasta PLC

Law Firm / Organization
Clifford Chance LLP

Barrick Gold Corporation has completed the reconstitution of the Reko Diq project, having received a favorable opinion from the Supreme Court of Pakistan and the required legislation having been passed into law.

One of the largest undeveloped copper-gold projects in the world, Reko Diq is owned 50 percent by Barrick, 25 percent by three federal state-owned enterprises, 15 percent by the Province of Balochistan on a fully funded basis and 10 percent by the Province of Balochistan on a free carried basis.

A separate agreement provided for Barrick's partner Antofagasta PLC to exit and be replaced by the Pakistani parties in the reconstituted project.

Joint Venture
Mining
Undisclosed/Confidential
Closed
15 December 2022