Barrick Mining’s board is reviewing all aspects of a gold and copper project in Pakistan’s Balochistan region, including capital allocation, due to security concerns, CEO Mark Hill said during a post-earnings call.
Barrick said the decision has been taken after the recent escalation of security risks and a rise in security incidents in the province.
Pakistani soldiers were hunting down separatist militants earlier this week who stormed schools, banks and security installations, killing nearly 50 people, in coordinated attacks across southwestern Balochistan province.
The miner added the review of the Reko Diq project’s security arrangements, development timetable and capital budget would begin immediately, with an update once the process is completed.
The gold and copper project is owned 50 percent by Barrick, 25 percent by three federal state-owned enterprises and 25 percent by the Government of Balochistan.
