After China, Canada's Barrick Flags Security Risk In Balochistan, Reviews Mining Project | Exclusive

Last Updated:February 07, 2026, 12:34 IST

The Reko Diq project has Barrick holding 50% stake, while three Pakistani federal state-owned enterprises own 25% and the government of Balochistan holds the remaining 25%

Rising security risks in Pakistan’s restive Balochistan province are dealing another blow to the country’s investment climate, with Canadian mining giant Barrick Gold confirming a comprehensive review of its flagship Reko Diq gold and copper project amid escalating militant attacks.

Barrick’s CEO Mark Hill said the company’s board is reviewing all aspects of the project, including capital allocation, security arrangements and development timelines, citing growing security concerns in the region. The review will begin immediately, with an update expected once the process is completed.

“The decision has been taken after the recent escalation of security risks and a rise in security incidents in Balochistan," Barrick said in a statement, adding that the assessment would also cover the project’s capital budget.

The Reko Diq project is jointly owned, with Barrick holding a 50 per cent stake, while three Pakistani federal state-owned enterprises own 25 per cent and the government of Balochistan holds the remaining 25 per cent.

Barrick’s move comes close on the heels of China temporarily suspending all on-ground operations in Pakistan’s strategic port city of Gwadar following coordinated militant attacks last week. Chinese personnel have reportedly been withdrawn after attacks were reported across Gwadar and at least ten other locations in Balochistan.

Top sources said multiple multinational firms and contractors operating in the province have approached the Balochistan government and Pakistan’s security forces, seeking enhanced protection for their staff and assets. However, Pakistan’s military has struggled to establish full security control across the region, with train services and transport along several routes still suspended.

“All mining companies and even local vendors are fearful due to the rising frequency of coordinated attacks by the Balochistan Liberation Army (BLA)," a senior source told News18, adding that the security environment has significantly deteriorated in recent weeks.

Pakistan’s failure to provide adequate security to foreign companies, including Chinese workers and international mining firms, is increasingly prompting multinational corporations to reconsider or scale back their operations in the province. Several firms have either shut down activities or slowed investment decisions, sources said.

The developments underline mounting challenges for Islamabad as it seeks foreign investment amid persistent insurgency in Balochistan, a mineral-rich but volatile region that remains critical to Pakistan’s economic and strategic ambitions.

News world After China, Canada's Barrick Flags Security Risk In Balochistan, Reviews Mining Project | Exclusive

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