IKN

Win us with honest trifles

Barrick (GOLD) gets an official green light on Reko Diq

The news out of Barrick today omits the U$900m cash settlement that the government of Pakistan will pay to remove Antofagasta (ANTO.L) from the scene. It’s also best called a green light, rather than THE green light if we consider the chequered permitting history and delays around the project. However, it’s clearly good news for all parties and confirms the chatter on the project doing the rounds (this Feb 20th report from a Pakistani business site got the main moving parts spot on, it seems). If all goes to plan, opens up not only the headline project but the highly propective region around it to mining activity. That matters, as just by starting with Reko Diq we are talking over 27Bn lbs copper and nearly 21m oz gold in all-category resources and a multi-generational life to any reasonable mine plan.

1 Comment

    It’s Pakistan…..what could possibly go wrong?

    Reply

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