‘Generational benefits’ from Reko Diq mines will uplift conflict-hit Balochistan — Barrick CEO

Mark Bristow, CEO of Barrick Gold Co., speaks during the Investing in African Mining Indaba 2023 conference in Cape Town, South Africa on February 8, 2023. (REUTERS/File)
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Updated 15 July 2025
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‘Generational benefits’ from Reko Diq mines will uplift conflict-hit Balochistan — Barrick CEO

  • Mining giant highlights local hiring, health care and education projects during visit to remote Chagai village
  • Project being developed in backdrop of decades of unrest, economic marginalization in restive Balochiatan

QUETTA: The chief executive of Canadian mining firm Barrick Gold said this week the multibillion-dollar Reko Diq copper and gold project in Pakistan’s Balochistan province will deliver “generational benefits” to the impoverished, conflict-hit region, as he met residents of Humai village near the mine site.

The Reko Diq project, jointly owned by Barrick and the governments of Pakistan and Balochistan, is one of the world’s largest undeveloped copper-gold deposits. Long delayed by legal disputes and concerns over foreign investment, the mine is seen as a potential economic game changer in a province that has long suffered from poverty, underdevelopment, and armed separatist violence.

Balochistan, Pakistan’s largest but least populated province, has for years seen unrest rooted in demands for greater autonomy and a larger share of natural resource revenues. Separatist militants have regularly targeted infrastructure, Chinese investments, and security forces. Against this backdrop, Barrick has emphasized its commitment to inclusive and transparent development.

“Reko Diq is not just a mining project; it is a multi-generational opportunity that promises sustained economic and social development for local communities for decades to come,” Barrick CEO Mark Bristow said in a statement on Monday released after he visited Humai, the closest village to the project site in District Chagai.

Bristow met local elders and development committee members, reaffirming the company’s goal to invest in job creation, skills training, education, and health care for Baloch communities.

“We are creating job opportunities not only through RDMC but also through our large network of partner and supplier companies that are coming onboard to support this major development,” Bristow said. “Currently, 75 percent of our workforce is from Balochistan — the majority from District Chagai — and we aim to continue strengthening this local representation.”

Bristow also highlighted recent investments in health care, including a new Mother and Child Health Center in Humai that offers maternal care services — the first such facility of its kind in the area.

“No meaningful development of this world-class mineral resource can happen without the active involvement and support of the people who live here,” he said.

Humai village chief Liaqat Malik and Par-e-Koh Community Development Committee Chairman Taj Muhammad thanked Bristow and RDMC for their engagement and development work, pledging continued community support for the project, according to the Barrick statement. 

The Reko Diq project is expected to begin production by 2028 and generate thousands of jobs while significantly boosting Pakistan’s export revenues. The Pakistani government has said it will ensure environmental protections and fair distribution of project benefits, though watchdog groups continue to call for greater transparency and community participation in oversight.


Pakistan cuts diesel prices, keeps petrol unchanged for next fortnight

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Pakistan cuts diesel prices, keeps petrol unchanged for next fortnight

  • Diesel reduction expected to ease transport and food costs
  • Fuel pricing remains tightly regulated amid IMF-backed reforms

KARACHI: Pakistan on Tuesday lowered the retail price of high-speed diesel while keeping petrol prices unchanged for the next two weeks, offering limited relief to transporters and businesses as the country navigates inflation pressures and economic reforms.

Fuel prices are closely watched in Pakistan because diesel is widely used in freight transport, agriculture and power generation, meaning changes can quickly feed into food prices and overall inflation. Petrol, meanwhile, primarily affects private motorists and urban consumers. The government revises fuel prices every fortnight, based largely on global oil prices, exchange rates and taxes.

The move comes as Pakistan seeks to balance inflation control with fiscal discipline under an International Monetary Fund loan program, which limits the government’s ability to offer broad fuel subsidies. Energy pricing has been a sensitive political issue in the country, where fuel costs directly affect household budgets and business expenses.

“The government has revised the prices of the petroleum products based on recommendations of OGRA,” the petroleum division said in a notification issued late Monday, referring to the regulator. 

According to the notification, the price of high-speed diesel was reduced by 14 rupees per liter, bringing it down to 265.65 rupees per liter, effective from today, Dec. 16. The price of petrol, officially termed motor spirit, was left unchanged at 263.45 rupees per liter for the same period.

Diesel accounts for a large share of fuel consumption in Pakistan and is critical for trucking, farming machinery and inter-city transport. Analysts say even modest reductions can help contain transport costs, though the impact depends on whether savings are passed on to consumers.

Pakistan has been adjusting fuel prices regularly since removing blanket subsidies in recent years as part of wider economic reforms aimed at reducing budget deficits and stabilizing the economy. The government has repeatedly said that energy pricing decisions must reflect market conditions while protecting public finances.