Barrick delays huge copper and gold mine in Pakistan amid Iran war

By Humza Jilani and Camilla Hodgson Financial Times, London Thursday, March 26, 2026   Barrick Mining is postponing its huge copper and gold project in Pakistan in response to the war in the Middle East and deteriorating security situation in the south Asian country. The decision comes after the Toronto-based group last month launched a review of the Reko Diq development following a rise in separatist violence in the province of Balochistan, where the mine is located.  ... Dispatch continues below ... ... ADVERTISEMENT ... Ultra-Secure Swiss Vault Storage from Tara Gold and Silver Ltd. Tara Gold is delighted to announce the launch of our ultra-secure gold and silver secure storage service. GATA followers can now own gold and silver coins and bars -- including the Gold and Silver Trees of Life — with fully segregated, allocated holdings in one of the safest vault providers in Switzerland and the world. All coins and bars are held in your name. Not a paper claim. Not someone else's liability. Real, physical precious metals you can visit, inspect, take delivery of, or sell at any time. Safety, Trust & Privacy: Our Swiss storage partner is Helveticor AG in Zurich. Tara Gold's Mark O'Byrne, after extensive international due diligence, served as Helveticor's global ambassador for two years and stores metal with them personally. He has known the owners and senior staff for 20 years and trusts their vaults implicitly. Your metals there are fully insured and held outside the banking system — no counterparty risk, no digital risk, and no fractional reserving, with complete discreetness and privacy. Liquidity: Switzerland is a primary hub for precious metals. You can sell quickly and competitively, with proceeds transferred directly to your bank account. Tax Efficiency: Gold and silver in Swiss-bonded vaults are exempt from sales taxes. You pay only if you remove bullion from Switzerland. For holdings of $100,000 or more, the combination of security, privacy, liquidity, and tax efficiency makes this a compelling international diversification. For rates, application forms, and all key information, visit here or contact GATA supporter Tara Gold and Silver Ltd.'s Mark O'Byrne at [email protected] or +353-12641850. "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 miner told its Pakistani equity partners and the project's local operator this week in correspondence seen by the FT.  "As a result, development activity will be slowed, with a corresponding reduced project spend, for a 12-month period commencing in July," it added, while the review period and slower pace of development "will impact previously stated budgets and timelines." ... ... For the remainder of the report: https://www.ft.com/content/3b175490-d91e-46c1-b7f8-56b23f176afb * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://tinyurl.com/3xt6uw66 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png