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Barrick Bets Big on Pakistan With $7 Billion Copper Mine Project

  • Canadian miner unveils design that’s twice original investment
  • Reko Diq may start producing copper and gold as soon as 2027
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Barrick CEO Sees Gold Closer to $2000 by Year End
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Barrick Gold Corp.’s first crack at building a copper mine in Pakistan was thwarted when the government denied it permits. A decade later, the company is making another -- much bolder -- attempt.

The Toronto-based miner laid out revised plans Tuesday for developing the giant Reko Diq copper-gold deposit in a desert region close to the borders of Iran and Afghanistan. Barrick shares rose 0.7% to C$32.33 at 2:05 p.m. in Toronto.