ISLAMABAD: Canadian mining giant Barrick Gold is set to raise $3 billion in international financing for the multi-billion-dollar Reko Diq Copper & Gold Project in Balochistan.

Barrick’s President and CEO Mark Bristow told Dawn on Tuesday that a financing pact with the World Bank and its commercial arm International Finance Corporation (IFC) was expected to be signed by mid-year and final financing packages by third quarter this year for $650 million. “We expect to drawdown about $500m by 4th quarter,” he said.

Bristow said details of financing from other financiers could not be disclosed at this stage, pending final approvals. He said the........

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