Reko Diq Copper/Gold Mine Project a Boon For Balochistan
As the controversial legal case and internal political resistance around Reko Diq comes to closure upon new agreements between Pakistan and Canadian Firm Barrick, a new era of investments and economic growth awaits Balochistan. The Reko Diq Cooper/Gold mine project has received the required approvals and work has begun on the Reko Diq feasibility study which is expected to go on till the end of 2024, with 2028 targeted for first production. The summary of new agreement terms and developments is as follows: The Canadian Firm Barrick would bear the initial capital cost of around $7-8 Billion required to develop the project The Canadian Firms share has been reduced to 50% as compared to earlier 75%. The remaining 50% is to be shared between The Government of Balochistan (35 %) and Three Pakistan State Owned Enterprises (15 %) i.e OGDCL, PPL and GHPL. The share of economic benefits to Pakistan increased to 63 % (financial effect approx $64 Billion) as compared to onl...