Affected by the situation in the Middle East, Barrick has postponed a major mining project in Pakistan.

Due to the deteriorating security situation in the Middle East and Pakistan, Barrick Mining Company has postponed its large copper-gold mining project in Pakistan. The Toronto-based mining company had started evaluating the Rekodiq project last month, as there has been an increase in separatist violence in the Balochistan province where the mine is located. The decision to delay the project was made after this evaluation. According to reports, the mining company stated in a letter to its Pakistani equity partners and local project operators this week: "Based on the preliminary assessment, and considering the subsequent escalation of security situations in Pakistan and the Middle East, the company believes it is necessary to further assess potential impacts and delivery strategies." The letter added: "As a result, over the next 12 months starting from July, the project development progress will be slowed down, and project expenses will be reduced accordingly." The evaluation period and slowing development progress "will affect the previously announced budget and timeline." Barrick has declined to comment.