The federal government has raised the estimated cost of the first phase of the Reko Diq copper and gold project by 58 percent to $6.8 billion.
The revision follows a new feasibility study and technical report conducted by Barrick Gold, which holds a 50 percent stake in the project. Officials expect the additional $2.5 billion cost to be offset by rising global prices of gold and copper.
Over the 30-year project lifespan, Pakistan’s federal and provincial governments are projected to receive $7.1 billion in royalties and taxes, along with dividends from their 50 percent ownership.
