https://www.mining-technology.com/
The increase is primarily attributed to the Reko Diq copper-gold project in the Chagai district of Balochistan, Pakistan.
Canadian miner Barrick Gold has reported a 23% increase in its overall proven and probable gold reserves, reaching 17.4 million ounces (moz) at the end of 2024. This rise is primarily attributed to the Reko Diq copper-gold project in the Chagai district of Balochistan, Pakistan.
The company’s attributable proven and probable gold reserves stood at 89moz at 0.99 grams per tonne (g/t) in 2024, up from 77moz at 1.65g/t in 2023. This year-on-year increase was driven by the conversion of Reko Diq’s copper-gold resources into mineral reserves, contributing 13moz of gold at a grade of 0.28g/t on an attributable basis, after the completion of the feasibility study.
Prior to this, Barrick achieved a fourth consecutive year of replacing annual depletion at a 4% higher grade. The Reko Diq mine, in which Barrick owns a 50% stake, is considered “one of the world’s largest underdeveloped copper-gold areas” and is expected to commence production by the end of 2028, reported Reuters.
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