Reko Diq Delay to 2030 Reported
The Reko Diq delay reported on November 2, 2026 could push production at the copper-gold project back by two years, to 2030. Dawn reported that the war in neighbouring Iran, along with persistent security challenges in Balochistan, has reportedly pushed investors to adjust the original 2028 timeline. The report rests on government sources and industry insiders. Barrick Mining, the Canadian company leading the project, has not issued an official announcement of a new date.
Barrick is expected to resume full-scale development by mid-2027, following an ongoing internal project review. Company officials in Pakistan expressed optimism that the venture remains on track, even as development slows. Despite the slowdown, project management has retained all 700 permanent workers and roughly 2,000 contractual workers at the site. Some third-party service contracts were allowed to expire.
Barrick, along with senior federal and Balochistan provincial government officials, did not immediately respond to requests for comment. That silence matters. Until the company or the government confirms a revised schedule, the 2030 date should be read as a reported adjustment under discussion, not as a confirmed new deadline.
Reko Diq delay: what the report says
The report links the possible delay to two pressures. The first is security in Balochistan, where attacks and instability raise costs and risks for a large mining operation. The second is the Iran situation, which affects regional shipping, investor confidence and the wider Middle East crisis. Together, those pressures have reportedly led investors to rethink the pace of construction.
A company employee, speaking on condition of anonymity, said daily operations on the ground remain active. Research, administrative work and community development projects are progressing normally, the employee said. The employee also said speculation about the project future is baseless and fuelled by ill-informed or irresponsible elements. Another official pointed to nearly $1 billion already invested in the venture, and said the project is technically viable and holds immense promise for all stakeholders.
Barrick Mining initiated a formal review of Reko Diq in February 2026, announcing a slowdown in development and extending its assessment period through early 2027. Speaking at the Mining Forum Americas last month, the Barrick chief executive offered no revised construction timelines. He said the company is revisiting the project because it needs some sort of security improvement before it would embark on a full construction schedule.
The cost dispute behind the timeline
Industry experts remain divided on what a delay would cost. A private-sector source involved in another Balochistan mining venture warned of severe cost overruns. The source said that even if work resumes within a year, project costs could rise by $8 billion to $10 billion, and that further security deterioration or delays beyond two years could render the project prohibitively expensive. The source also advocated for a consortium of local companies to acquire a minority stake.
An industry insider with business ties to the Reko Diq Mining Company dismissed the $10 billion cost escalation estimate as bordering on absurd. The insider estimated that delays might raise costs by 10 per cent at most, roughly $450 million to $900 million. The insider added that sentiment around the project had improved sharply in recent weeks, and said confidence is higher now that work will resume sooner than expected.
Scale, stakes and the next diary date
Is the Reko Diq delay confirmed?
No. Dawn reported, on the basis of government sources and industry insiders, that production could be delayed by two years to 2030. Barrick has not issued an official announcement of a new date.
What is causing the possible delay?
The report cites the Iran situation and persistent security challenges in Balochistan, which have reportedly pushed investors to adjust the original 2028 timeline.
Who owns Reko Diq?
Barrick Mining holds 50 per cent. The other half is split equally between the Balochistan government and three state-owned entities: Pakistan Petroleum, Oil and Gas Development Company, and Government Holdings Private.
How much has been invested so far?
Company sources cited in the report put the figure at nearly $1 billion already invested, with Phase 1 investment now estimated at $5.6 billion.
When will the timeline become clearer?
Barrick chairman John L. Thornton is expected in Pakistan later in November for the Pakistan Minerals Investment Forum 2026 in Islamabad.
