Barrick Gold's Reko Diq Project Approved by JV Shareholders [Yahoo! Finance]
Gold.com, Inc. (GOLD)
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Source: Yahoo! Finance
and conditionally approved related Phase 1 development capital, subject to the closing of up to $3 billion in limited recourse project financing. The approval clears the way for significant works to begin in 2025, with the goal of starting production by the end of 2028. In addition, the shareholders have selected Fluor Corporation as the main Engineering, Procurement and Construction Management (EPCM) partner to work with Barrick's Owner's Team on the project's detailed design and construction. The Reko Diq project, located in Balochistan, Pakistan, is being operated by Barrick. Fluor's appointment as the EPCM partner enhances the company's capability to execute the project with the technical expertise, operational discipline and socio-environmental responsibility that both Barrick and Fluor are known for. Fluor will collaborate with a range of specialized engineering consultants, including Knight Piesold, PRDW and Vecturis, who have supported Barrick's Owner's Team throughout the
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