ISLAMABAD (The Thursday Times) — Barrick Mining Corporation has expressed strong interest in investing in mineral processing industries in Karachi and Gwadar, the Prime Minister’s Office said on Friday, after the company’s chairman, John Thornton, led a delegation to meet Prime Minister Shehbaz Sharif in Islamabad.
The meeting came on the second and final day of the Pakistan Minerals Investment Forum 2026, where the government has been pitching the country’s mineral wealth to foreign investors. The delegation called the forum an important step for the development of Pakistan’s mineral sector, according to the statement.
Shehbaz said he wanted to draw on Barrick’s expertise to develop the mineral sector beyond Reko Diq, the copper and gold project in Balochistan’s Chagai district that the company is building. He described Reko Diq as an important milestone for investment in the sector and said its successful completion would set a benchmark for future mineral investment in Pakistan.
The prime minister said the government wanted the people of Balochistan to benefit directly from mineral projects, through jobs and skills training for local young people and the development of surrounding communities. The two sides also discussed the policy, regulatory, and infrastructure frameworks the sector needs, the statement said.
A road to the coast
On Thursday, Planning Minister Ahsan Iqbal met a Barrick delegation and called for faster work on a proposed road corridor linking Nokundi in Chagai with the port of Gwadar. He proposed a joint working group of the planning ministry, the National Highway Authority, the Balochistan government, and mining companies to settle the technical requirements, feasibility, financing, and implementation of the route, according to a statement from his ministry.
Iqbal asked for detailed topographical data and 3D mapping to speed up the feasibility study of what he called the “missing link”, and tied the mining sector to the government’s goal of raising exports to $100 billion under its National Economic Transformation Plan 2035. The Barrick delegation welcomed the proposal, the statement said.
Reko Diq and the forum
Barrick owns half of Reko Diq, and the federal and Balochistan governments own the rest. The company has said the mine could generate about $70 billion in free cash flow over its life.
Earlier at the forum, Canada’s Ivanhoe Mines signed an agreement with Mari Energies to explore for copper and gold in Chagai, and Field Marshal Syed Asim Munir pledged security for mines, miners, and investors.
