OGDC Says Barrick Gold Restructuring Won’t Impact Reko Diq

Oil and Gas Development Company Ltd. (OGDC) has assured investors that the Reko Diq copper and gold project will remain unaffected by any potential corporate restructuring at Barrick Gold, its Canadian partner. The clarification was shared during a corporate briefing held on November 24, 2025, attended by Topline Securities, which reported that OGDCL management dismissed talk of a potential split of Barrick into regional business units. According to the briefing, Barrick has already assured Pakistani stakeholders that Reko Diq remains a priority asset. r OGDCL said that even if the mining giant undergoes internal restructuring, it would not affect ownership arrangements or project timelines because of the number of government and local stakeholders involved. The reassurance comes after a Reuters report claimed that Barrick’s board had discussed separating its North American operations from those in Africa and Asia. The report also suggested that a breakup could include the sale of some overseas mines, including Reko Diq, once financing is complete. On Tuesday, Reuters reported that Barrick’s interim CEO reaffirmed the company’s commitment to the Reko Diq mine in Pakistan’s Balochistan province, calling it one of the world’s largest undeveloped copper deposits. The $7 billion project is a 50-50 partnership between Barrick and Pakistani authorities, with production expected to begin by the end of 2028. Barrick owns 50 percent of the project, while OGDCL and two other federal state-owned companies hold 25 percent. The Government of Balochistan owns the remaining 25 percent, including a 10 percent free carried share. The company reiterated its financial expectations from the project, noting that it anticipates annual cash flows of between 150 million dollars and 200 million dollars based on its 8 percent stake. Management said the early cash flows from Reko Diq would help fund the project’s second expansion phase. OGDCL told analysts that the multibillion-dollar mining project remains on track for first production in 2028. Reko Diq, located in Balochistan, is considered one of the largest undeveloped copper and gold deposits in the world.