Barrick to delay Pakistan copper-gold project amid Middle East conflict, FT reports

March 26 (Reuters) - Barrick Mining (ABX.TO), is delaying its huge copper and gold project ‌in Pakistan due to the Middle East conflict and deteriorating security situation in the South Asian country, the Financial Times reported on Thursday, ⁠citing correspondence seen by the media outlet.

"Following the preliminary findings of the review and in light of the subsequent escalation in security issues in Pakistan and the Middle East, the company considers it necessary to further ‌assess ⁠the potential impacts and delivery strategy," the report quoted Barrick telling its Pakistani equity partners and the project's local operator.

Development ⁠activity will be slowed, with a correspondingly reduced project spend, for a 12-month period ⁠commencing in July, the miner added according to the report.

Barrick ⁠Mining did not immediately respond to Reuters' request for comment.

Reporting by Sumit Saha in Bengaluru; Editing by Jonathan Ananda

Reuters

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Barrick to delay Pakistan copper-gold project amid Middle East conflict, FT reports

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