Archive · 14 Aug 2025
Barrick Mining Seeks Funding for Balochistan Copper-Gold Mine
A mining company called Barrick is trying to get $3.5 billion from wealthy countries to dig for copper and gold in Balochistan.
This area has lots of resources, but some people aren't happy about it.
The mine could make a lot of money over the next few decades.
The company is talking to banks and organizations in the US, Canada, and other countries to get the money.
The US government recently called a group fighting for Balochistan's independence a terrorist group.
Local people in Balochistan believe that they aren't getting any benefit from the mining.
Barrick Mining seeks $3.5 billion in funding from G7 nations for a copper-gold project in Balochistan.
The Reko Diq mine is expected to start production by 2028 and generate substantial cash flow over its lifespan.
Funding is being sought from various financial institutions, including those in the U.S., Canada, and Japan.
The Balochistan Liberation Army (BLA) has been labeled a 'Foreign Terrorist Organisation' by the U.S.
The Baloch people accuse the Pakistani government and China of exploiting their resources without local benefit.
- Who
- Barrick Mining, G7 nations, and various financial institutions.
- What
- Barrick Mining is seeking funding for a copper-gold mining project in Balochistan.
- When
- Production is expected to begin by 2028.
- Where
- Balochistan
- Why
- To fund the Reko Diq copper-gold project.
Pro-Development/Mining
Anti-Development/Mining
Resource Exploitation
Pro-Development/Mining
Supports resource extraction for economic benefit
Anti-Development/Mining
Opposes resource extraction due to lack of local benefit
Foreign Involvement
Pro-Development/Mining
U.S. government supports mining project
Anti-Development/Mining
Baloch people accuse Pakistan & China of exploitation
- Company Seeking Funding
- Barrick Mining
- Amount of Funding Sought
- $3.5 billion
- Project
- Reko Diq copper-gold mine
- Expected Production Start
- 2028
- Estimated Free Cash Flow
- $70 billion (over 37 years)
- Location
- Balochistan