Barrick Mining (B) delays Pakistan Reko Diq Mine Project, FT reports; slowing development for 12 months from July
- Project estimated at USD 9bln.
- First production seen delayed to 2029 at earliest.
Context
The delay in Barrick Mining's Reko Diq project, now pushed back by a year, represents a significant setback for the company, impacting their anticipated production timeline until at least 2029. This postponement may raise concerns about project viability and profitability, which could affect Barrick's stock performance and investor sentiment in the mining sector more broadly. Market watchers will want to assess how this impacts Barrick's other operations and its overall strategic direction.
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