Barrick Mining Corporation (TSX: ABX) secured a legal win Wednesday as Ontario’s Court of Appeal dismissed a human rights lawsuit linked to its North Mara gold mine in Tanzania, while separately disclosing it will slow development of its Reko Diq copper-gold project in Pakistan amid deteriorating security conditions.
A lower court had previously ruled that Canadian courts were not the proper venue for the case, a finding the appellate court affirmed — sending the matter to Tanzania for adjudication. The plaintiffs, Tanzanian residents, accused the Tanzanian Police Force of committing abuses near the mine. Court records showed the police force operates without direction from Barrick.
President and CEO Mark Hill said the company is “proud of our work in Tanzania,” adding that its partnerships with local governments and communities support job creation and economic development for Tanzanians.
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On April 2, Barrick disclosed plans to slow Reko Diq construction and extend its project review through mid-2027, citing a further escalation of security incidents in Pakistan and the surrounding region since February.
Read: Barrick Extends Strategic Review at Reko Diq Through Mid-2027
Barrick said the review will allow it to take a comprehensive look at evolving conditions on the ground, along with the project’s financing structure, cost profile, and construction schedule, before returning to full-pace development.
Construction will continue at a reduced pace under active management, though Barrick cautioned that costs and timelines could increase materially from prior estimates. Phase 1 of the project had previously been projected at $5.6 billion to $6.0 billion on a 100% basis, with Phase 2 estimated at $3.3 billion to $3.6 billion.
First production had been targeted for the end of 2028. Barrick said it will maintain its community investment commitments in Balochistan despite the slowdown.
Separately, the company filed its 2026 information circular on Wednesday ahead of its annual shareholder meeting, scheduled for May 8 in a virtual-only format beginning at 10:00 a.m. EDT.
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