Reko Diq is a giant copper-gold deposit in the Chagai district of Balochistan, close to Pakistan’s borders with Afghanistan and Iran. It is widely described as one of the world’s largest undeveloped copper-gold projects.
The project is operated by Barrick Mining. Under the restructured agreement, Barrick holds 50%, Pakistani federal state-owned enterprises collectively hold 25%, and the Government of Balochistan holds 25%, including a carried portion designed to reduce the province’s need to fund all of its equity upfront.
The scale is large. Barrick’s mineral reserve statement for the end of 2025 lists its attributable 50% share of Reko Diq at about 1.5 billion tonnes of probable copper ore grading around 0.48%, containing about 7.3 million tonnes of copper. Because that figure is Barrick’s attributable half, it should not be confused with the total project reserve. The project also contains significant gold.
The economic case rests on long mine life and rising global copper demand, but building a remote mine of this size requires billions of dollars in capital, power generation, water systems, roads, processing plants and export logistics.
The timetable is no longer as straightforward as earlier plans suggested. In 2026 Barrick extended its review and slowed development activity because of escalating security risks in Pakistan and the wider region. The company said it still believed in the project’s long-term value, but warned that budgets and timing could change.
For Pakistan, Reko Diq is potentially important for exports, foreign investment, taxes, royalties and local employment. For Balochistan, the crucial questions include how much revenue stays in the province, how communities benefit and whether environmental and water concerns are addressed.
That is why headlines describing Reko Diq as “trillions of dollars underground” can be misleading. A mineral resource is not the same as cash. Value depends on metal prices, recovery rates, operating costs, financing, security, infrastructure and decades of successful production.