Barrick delays Pakistan project amid Middle East conflict

Barrick Mining is postponing its major copper and gold project in Pakistan due to the ongoing Middle East conflict and the worsening security situation in the South Asian country, based on correspondence reviewed by the 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, News.Az reports, citing foreign media.

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.

News.Az 

By Ulviyya Salmanli