- Balochistan will strengthen its intelligence network and work closely with businesses.
- Shahid Rind says the government is extremely serious about foreign investment.
- Barrick says it will “immediately” review its Balochistan project.
KARACHI: Pakistan has decided to strengthen its intelligence network and raise a special force to guard the mineral-rich Balochistan province and its borders with Iran and Afghanistan, a provincial government official said.
The evolution, reported by News quoting Arab Newscomes days after Canadian giant Barrick Mining Corporation announced plans to “immediately” begin a comprehensive review of all aspects of the multi-billion dollar Reko Diq copper-gold project in Balochistan.
Barrick’s decision follows coordinated attacks by the Baloch Liberation Army (BLA) terror group in several districts of Balochistan last Saturday, which killed 36 civilians and 22 security personnel. Authorities said they killed 216 militants in follow-up operations.
“In light of the terrorist events, the provincial government, in tandem with the security forces, is rethinking the entire security architecture,” said Shahid Rind, aide to Balochistan Chief Minister Sarfraz Bugti on media and political affairs. Arab News.
“This includes the creation of a Border Corps dedicated to the mineralized zone, securing the two borders, i.e. Iran and Afghanistan.”
Arab News contacted Pakistan’s Information Minister Attaullah Tarar, but he did not respond to questions seeking comment on the matter.
The Balochistan government will also strengthen its intelligence network and work closely with mining companies in the region.
“The Balochistan government takes foreign investment in the province extremely seriously and considers Reko Diq as the flag bearer of foreign investment,” Rind said.
“The provincial government will do whatever is necessary to maintain this. »
The recent attacks have apparently alarmed international investors, particularly Barrick, which is developing one of the world’s largest copper and gold mines in Balochistan.
“As we have indicated in our public filings, Barrick is undertaking a review of all aspects of the Reko Diq project, including with respect to the project security arrangements, development schedule and capital budget,” a Barrick spokesperson said in response to a call. Arab News e-mail.
In a Feb. 5 statement released with its fourth-quarter financial results, Barrick said the Reko Diq project “continued to progress site work in the fourth quarter, although in light of a recent increase in security incidents, management is currently reviewing all aspects of the project.”
“The review will begin immediately,” the Barrick spokesperson said. “An update will be provided once the review is complete.”
Barrick owns a 50% stake in Reko Diq, with three Pakistani federal state-owned enterprises owning 25%, while the Balochistan government owns the remaining 25% of the project.
The project is expected to begin production in 2028 and is central to Pakistan’s hopes to boost mineral exports and attract foreign investment to its underdeveloped mining sector.
Despite increased threats in Balochistan, project-related development continues in other parts of the country.
Barrick is expected to start investing in Pakistan’s port infrastructure as soon as the country prepares for exports.
Pakistan International Bulk Terminal Ltd (PIBT), the country’s first dirty bulk terminal located at Port Qasim in Karachi, will host dedicated facilities to ship Reko Diq production.
Sharique Azim Siddiqui, CEO of PIBT, said Arab News This week, Barrick is reportedly investing $150 million to build a hangar and upgrade other dedicated facilities to handle copper-gold concentrate shipments once Reko Diq production begins in 2028.
Barrick’s Pakistani subsidiary Reko Diq Mining Company signed an export agreement with PIBT last week under which the mining company will export 800,000 tonnes of copper and gold concentrate through the terminal in the first phase, doubling the volume in the second phase, according to Siddiqui.
Relaunched in 2022 after years of legal disputes, the Reko Diq project is being touted by the government as a transformative investment for Balochistan, Pakistan’s largest but least developed province.
But persistent militant activity and increased attacks targeting security forces, state institutions and infrastructure have raised concerns among investors.
The latest attacks, one of the deadliest outbreaks of violence in Balochistan in recent years, have triggered large-scale security operations across the province as authorities continue their hunt for militant facilitators.
Siddiqui said the recent rise in militancy in Balochistan remains a concern for them.
“Security challenges have always existed in Pakistan. Investors are aware of them, we accept them without hesitation and we hope for the best,” Siddiqui said.
“If there’s no security for the movement of goods, it’s going to be detrimental to that.” [Reko Diq] project and hurt everyone.
