BENGALURU: Canadian miner Barrick Gold’s overall proven and probable gold reserves jumped 23 per cent to 17.4 million ounces at the end of 2024, lifted by its Reko Diq copper-gold project, the company said on Thursday. The company added 13 million ounces of gold to its probable reserves on an attributable basis following the completion of its feasibility study at Reko Diq.

Barrick owns a 50pc stake in the mine and the governments of Pakistan and the Balochistan own rest. Barrick considers the mine as one of the world’s largest underdeveloped copper-gold areas.

It is expected to start production by the end of 2028.

The company’s reserves in the Africa and Middle East region edged up about 1.1pc to 19m ounces in 2024, driven by its Loulo-Gounkoto mine in Mali and the Bulyanhulu mine in Tanzania.

Published in Dawn, February 7th, 2025