Barrick Gold, Pakistan Agree to Restart Reko Diq Project

Barrick Gold Corp. and Pakistan agreed to restart the Reko Diq mine project in southwestern Balochistan.

Toronto-based Barrick will be granted a mining lease, exploration license and surface rights, according to a press release on Sunday.

Reko Diq is one of the largest undeveloped copper and gold deposits in the world, capable of producing 200,000 tons of copper and 250,000 ounces of gold a year for more than half a century. The project was suspended in 2011 as Pakistan denied Barrick and Antofagasta Plc a license to develop Reko Diq, leading to a dispute.

Antofagasta, in a separate statement ...