Biafo Industries secures contract for explosives supply at Reko Diq mine

ISLAMABAD: Biafo Industries Limited has signed a contract with Reko Diq Mining Company to provide explosives and related civil blasting services for the initial infrastructure development at the mining site, as revealed in a recent stock exchange filing.

Biafo, known for manufacturing and selling commercial explosives and blasting accessories such as detonators, will play a vital role in the project.

Saudi Arabia set to buy 10-20pc stake in Reko Diq gold project

The Reko Diq Mine is a significant undertaking, jointly owned by Canadian mining firm Barrick Gold (50 percent), three federal state-owned enterprises—Government Holdings (Private) Limited (GHCL), Oil and Gas Development Company Limited (OGDCL), and Pakistan Petroleum Limited (PPL) (25%)—and the Government of Balochistan, which holds a 15 percent stake.

Recently, Barrick Gold announced that its proven and probable gold reserves increased by 23 percent to 17.4 million ounces at the end of 2024, driven by progress in its Reko Diq copper-gold project.

The company added 13 million ounces to its probable reserves on an attributable basis following the completion of the feasibility study at Reko Diq.