Barrick Approves Plan for Copper-Gold Project in Pakistan

Barrick Gold Corp. has provisionally approved plans to develop a vast copper-and-gold project in Pakistan, and expects to sign a $3 billion funding package for the mine in the third quarter.

Financing for the Reko Diq project is led by the World Bank’s International Finance Corp., with participation from state funding agencies in the US, Germany, Japan and elsewhere, Barrick Chief Executive Officer Mark Bristow said Tuesday in an interview in Islamabad.