What's new

Reko Diq resources estimated at 730m tons

Pk_Thunder

SENIOR MEMBER
Joined
Sep 29, 2008
Messages
1,270
Reaction score
0
Reko Diq resources estimated at 730m tons



ISLAMABAD: Dr Samar Mubarkmand on Friday said that Reko Diq has 730 million tons resources.

Giving a briefing to NA standing committee on Inter-Provincial Coordination which met here under the chairmanship of Mir Ahmedan Khan Bugti, he said that the estimated global resources are more than three billion tons of mineralized material, including 18 million tons of copper and 35 million ounces of gold.

He informed that annual operating cost is Rs2,045 million, and annual profit for processing 5000 ton/day in a single shift of work is Rs6,079 million.

“If three shifts work per day, the annual profit would be Rs.18,238 million, he said.

Dr Samar further said that other associated metals including lead, zinc, silver, cobalt, iron and sulfur were considered as additional by-products, sufficient enough to contribute in the pay back for the cash flow of the operating mine.

The Director General (Minerals), Ministry of Petroleum and Natural Resources briefed the committee about Saindak Copper Gold project. He informed that total resources are 412 million tons of ore, consisting of three ore bodies, East, North and South.
 
Pakistan has local expertise to refine copper, gold at Reko Diq

* PMDC (Amendment) Act 2011 approved unanimously

* Balochistan govt estimated to get $212m per year

By Ijaz Kakakhel

ISLAMABAD: As Pakistani scientists refining uranium successfully, in the same way, the country is about to process and refine the copper and gold reserves exist in Balochistan through available local human resources.

Dr Samar Mubarakmand revealed these views in front of National Assembly Standing Committee on Inter-Provincial Coordination held today in the Parliament House. “We are refining uranium locally then why not copper and gold,” he said adding that all benefits would be get by the local people instead of giving big shares to any foreign company. He said that in Reko Diq, Balochistan resources are 730 million tonnes, of which 0.6 percent copper and 0.4 g/t gold. The estimated global resources are more than three billion tonnes of mineralised material, including 18 million tons of copper and 35 million of gold. He informed that annual operating cost is Rs 2.045 billion and annual profit from processing 5000 tonnes a day in a single shift of work is Rs 6.079 billion, and if three shifts work per day the annual profit is Rs 18.238 billion. Other associated metals including lead, zinc, silver, cobalt, iron and sulphur ere considered as additional by-products, sufficient enough to contribute in the pay back for the cash flow of the operating mine.

Mubarakmand further briefed the committee that the government has gave 400 square kilometres (km) areas for exploration to a foreign company and not for mining purposes. By 2009, the foreign company has completed feasibility report and submitted the government with request for mining lease, which is still pending with the government of Balochistan. The company, he said did exploration in 6 km areas and informed the government of Pakistan that it has $250 billion worth gold. The Planning Commission of Pakistan has prepared a project on Reko Diq, which cleared by CDWP and ECNEC and now waiting for green single from Balochistan government. Under this local project, he said, “If we able to process 15000 tonnes per day, the Balochistan government would get $212 million per year.” While the foreign company has informed the government that they would process 0.2 million tonnes per day and the annual profit would be $160 million per annum. The company shows lower income because it revealed 70 percent expenditures. He also claimed that the company would reached 0.2 million tonnes per day in 25 years in different phase wise.

He also claimed that the foreign company applied for mining with certain tough conditions that the whole ore would be process outside Pakistan and after that foreign company would determine the price of copper and gold. And after determining prices by foreign company abroad the government of Balochistan would be able to get less than 10 percent profit. Keeping in view the conditions of foreign company, he said the provincial government of Balochistan has decided to run the project through local experts. He claimed that from 100 to 150 metres in depth the copper and gold reserves might be discovered. If the government provided security to foreign companies, then why not for local experts, he questioned. For successful implementation of this project locally, he claimed that all plants would be established indigenously through available human resources.

The Director General Mineral, Ministry of Petroleum and Natural Resources briefed the committee about Saindak Copper Gold project informing that total resources are 412 million tonnes of ore, consisting of three ore bodies, East, North and South, 100 percent owned by the government of Pakistan. Total income of government of Pakistan and government of Balochistan from this project is $44.866 million and profit share and profit share of Chinese Company is about $165 million.

After the briefing members appreciated the work of Dr Samar Mubarakmand on these projects and asked that the committee fully support these projects. Members asked questions about these projects, which were replied by the officials. On agenda item regarding consideration on amendments in the Pakistan Medical and Dental Council Amendment Act, after extensive discussion the committee approved the Bill unanimously.
 
Reko Diq reserves: Mining aspirant serves notice to provincial government

279462-rekodiqonline-1319258553-792-640x480.jpg

The two sides now have 120 days to meet and reach an agreement. PHOTO: ONLINE/FILE



ISLAMABAD:A dispute between Balochistan government and Tethyan Copper Company (TCC) has taken an ugly turn that is likely to jeopardise $3.5 billion in foreign investment and a potential bilateral treaty between Pakistan and Canada.

TCC, a joint venture between Chile-based Antofagasta Company and Canada’s Barrick Gold Corp, seeking a mining license for Reko Diq copper and gold reserves, served a “notice of dispute” to the Balochistan government on Wednesday.

The partners filed the notice after the provincial government refused to meet the company executives and did not extend the 30-day deadline for it to respond to objections that the provincial government had risen over a mining lease.

The provincial government’s attitude disappointed the company which did not have any other option but to invoke dispute resolution clauses of the Chagai Hills Exploration Joint Venture Agreement, Canadian High Commission officials told The Express Tribune.

The provincial government had raised ten objections over mining licence application submitted by the TCC and gave it a month’s deadline to respond. The company repeatedly requested for time to better understand the objections but the government refused to either give time or extend deadline to file a comprehensive response, the diplomats said.

Under the safeguard clauses of the treaty, the two sides now have 120 days to meet and reach an agreement.

High Commission officials said if both parties could not resolve the dispute, the company will have to seek a resolution through international arbitration and seek compensation.

Reuters quoted the TCC Chief Executive Tim Livesey as saying: “It is my feeling that there is a degree of confusion … and I hope we can resolve the dispute”.

The company has so far spent about $400 million in the exploration and feasibility study and would not leave so easily, the diplomats added.

According to the feasibility study of the project, there is approximately $127 billion worth gold and copper reserves – an estimate contested by the Pakistani experts who say that the real value is over $260 billon. Of the earnings, 52% would go to the federal and provincial governments in shape of taxes, royalty and other incomes while the provincial government would have 25% equity partnership without risk investment. (With additional reporting by Shehzad Baloch in Quetta)

Published in The Express Tribune, October 22nd, 2011


Reko Diq reserves: Mining aspirant serves notice to provincial government – The Express Tribune


I dont think these western companies can be trusted to handle our natural resources. Pakistan needs to cancel the agreement with the Canadian company.
 
Balochistan Circes & Reko Diq Deposit

Wed, 2011-11-16 02:47 — editor
Article
By Zaheerul Hassan

Reko Diq is a small town in Chagai District, Baluchistan located 70 kilometres northwest of Naukundi, near to the Iran-Afghan border. The town has the world´s largest Gold and Copper reserves containing 12.3 million tons of copper and 20.9 million ounces of gold in inferred and indicated resources.

Rough estimates suggest that the gold and copper at the surface accounts for $65 billion worth of deposits which is believed to be four times larger in copper ore tonnage than Saindak project and even bigger than Sarcheshmeh in Iran and Escondida in Chile.

Reportedly, the most credible natural deposit might have been sold to the Zionist controlled regimes by the Pakistani Government at a price of $21 billion. Barrick Gold Corporation of Canada (a Jew’s company) and Antofagasta of Chile have a joint-ownership of the copper-gold deposit at Reko Diq.

Moreover, the under discussion deposits are being explored by Tethyan Copper Company Pty Ltd (75%) and the (BDA) Balochistan Development Authority (25%). Tethyan Copper Company is held jointly (50:50) by Barrick Gold Corporation and Antofagasta Minerals.

Currently the company has prepared the feasibility but Balochistan government went to the Supreme Court and raised objections over the distribution of share of potential income of the deposit. Its pre-feasibility study was completed in third quarter 2009 and work on full scale is expected to be commenced after completion of Supreme Court litigation. The development of the deposit defiantly will bring prosperity in the most neglected province of Pakistan i.e. “Balochistan” where 88 per cent of its population lives in subhuman conditions. But at the same all this economic boost is directly conditioned to the Baluchistan’s security.

Present situation still is not very conducive in the Balochistan because of involvement of foreign hands. Afghanistan and India are exploiting the situation while providing shelters to the rebellions of Balochistan. The greatest sin of our rulers has been that they have never tried to better the economic and political conditions in Balochistan. It is important to remove the mistrust between the Baloch and the Federation. The negotiation on actual demands for Baloch rights should begin and equally important is the identification of Indian designs of creating unrest in Balochistan.

The massive growth of development in Balochistan has become sore in the eyes of Indian strategists. India is fanning unrest on while: widening the gulf between Punjabis and Balochs on the Gwadar Port by making it believe that the developmental projects are aimed at turning the Balochs into a minority, widely publicizing incidents of Human rights violation in Balochistan by highlighting the so-called miseries of Balochs, like disappearances, political victimization and displacement due to clean-up operations.

RAW is also generating suspicions in ethnic Balochs that Islamabad wants to possess the riches of Balochistan. CIA is cultivating in the minds of the Baloch nationalists that China intends to occupy their natural resources.

Above all, CIA’s activities in Balochistan have become now quite intolerable which also put a big question mark over U.S. growing interest in this region. In fact, Creation of “Greater Balochistan” is the top most agenda of U.S., India and Israel collaboration. Their obvious objectives are: (1) weakening Pakistan, Iran and Afghanistan, (2) establishing strong hold in Central Asian Region even after culmination of war on terror, (3) denting Chinese economic interests in African and Middle East while creating impediment in full scale operation of Gwadar Port, development of Reko Deq project and the last is looking after Indian and Israeli interests in the region.

Therefore, the American establishment has started supporting pro Independent Balochistan Movement, and anti Pakistan elements in Balochistan. In this connection, CIA supported elements are using America, UK, India and Afghanistan as their platforms for organizing, planning and operational bases for execution of the plan of Independent Balochistan. Moreover, some militarily supported political lobbies of America and Uk are facilitating anti Pakistan elements (so called liberators) to carryout nefarious activities against Pakistan.

On April 28, 2011 US Ambassador Cameron Munter, visited first time Balochistan and attended a Pashtun tribal Jirga in Quetta. He went there on the invitation of convener of Pakhtun Ulas Qaumi Jirga Nawab Ayaz Jogezai. The jirga brought together 16 Pashtun tribal elders from Balochistan who discussed issues of mutual interest, including economic development in the province and matters pertaining to security.

American interest can be very easily judged from her ambassador statement in which he mentioned that “Balochistan is a proud province with a rich history, wonderful people, who have strong traditions. I feel very fortunate to experience this first hand by being included in this Pashtun Tribal Jrga,” He further added that face to face interaction can address the difficult issues facing Balochistan , in a spirit of open communication and collaboration,”. U.S. Ambassador meeting with Pakhtun leaders in Balochistan should not be taken as simple interaction and need to be monitored persistently since such type of meetings might create rift between three segments (Pakhtun, Balochs, and Punjabi).

In the last week of April 2011 Carnegie Endowment for Intl Peace has rented its space to the Balochistan Society, of North America (BSO - NA) to hold conference on Balochistan. Alongside this development, United States Institute of Peace (USIP) has also held an event “Turmoil in Balochistan. The participants of meeting were (1) jaz Haider (a journalist from Pak), (2) Shazadi Beg (member of Department of Justice UK),(3)Selig Harrison (a contentious journalist known for his critical views on Pak),94) Marvin Weinbaum (Middle East Institute). The speakers fomented venom against Pakistan very openly as directed by their masters.

On learning about first event, our Ambassador to USA Mr Haqqani has already written an unequivocal letter to the President of the Carnegie essentially arguing that Carnegie’s renting of its space to the BSO – NA could potentially damage Pak – US relations; legitimise the activities of the BSO – NA who is an adjunct of a terrorist organisation BLA banned in Pak and urged the Carnegie Endowment to revoke its decision of renting space to the BSO – NA. Response has not yet been rendered by Carnegie Endowment and the meeting have been conducted in the manners as desired by CIA.

The government of Pakistan is extremely concerned over USIP holding of an event “Turmoil in Balochistan” on an integral part of Pak, Balochistan. Since USIP is a congressionally funded body, one would presume that the event is being held under the patronage of Congress. Its implications on Pak – U.S. relations will be extremely negative. American leadership should think that it is not just academic freedom or analysis that is important, what the USIP must assess is also the impact on our bilateral relations of holding this event. It is time to help consolidate the democratically elected Government of Pakistan.

It is obvious that arranging such events, which are ideologically or politically motivated, serve to undermine Pak’s solidarity and its elected govt and defiantly causes hatred against U.S. character in Pakistani masses too. American supported political leadership tried to inflame public opinion in Pakistan and Balochistan. The think tanks in U.S. are independent and completely autonomous in their policies.

Despite the efforts made by our embassy at Washington, it is less likely that USIP will change its stance. In spite of the liberty accorded to think tanks, there always remains influence of state institutions.

It is worth mentioning here that Pakistan Army is displaying tremendous efforts in the development of Balochistan. In this connections number of projects in the shape of opening of educational institutions, building of hospitals, construction of communication infrastructures, employing locals in the armed forces and development of Gawadar Port have been completed or under progress. At the same time The “Aghaz-e-Haqooq-e-Balochistan” package has already been announced by Pakistan Government which needs to be implemented in letter and spirit to address the deprivations of Baloch people.

- Asian Tribune -

Balochistan Circes & Reko Diq Deposit | Asian Tribune
 
Pakistan should immediately cancel the agreement with the Canadian country. Canada and the United States are two different countries only on the map. Canadians and Americans think the same, and have the same policies, and have the same interests internationally. Pakistan Army and ISI should threaten the PPP government to cancel this agreement with the Canadian company.

After that, make sure Afghanistan has zero indian presence once the Americans leave. When the Americans leave, Indians will leave with the Americans. Pakistan Army, ISI, and government should do all they can, and make any necessary steps, to make sure there is no indian left in Afghanistan once Americans leave.

Once Americans and Indians leave Afghanistan, we can exploit our natural resources in Balochistan and make a prosperous Balochistan and a prosperous Pakistan.
 
Very good news for Pakistan and especially for the people of Balochistan Province.



Reko Diq: Balochistan government refuses to grant license to Tethyan Copper

By Shehzad Baloch

Published: November 16, 2011


292708-rekodiqonline-1321440989-962-640x480.jpg

Official says TTC can appeal in court against decision, Balochistan govt reserves right to refuse mining license. PHOTO: ONLINE/FILE


QUETTA: The Balochistan Mining Committee (BMC) has refused to grant a mining license to Tethyan Copper Company (TCC) for the Reko Diq project under Balochistan Mines Rule 2002.

The BMC, headed by director general Mines and Mineral Department Balochistan, was formed to examine the feasibility report of TCC on the Reko Diq project.


A senior official told The Express Tribune that the Advocate General of Balochistan Amanullah Kanrani will submit a report provided by the BMC to the Supreme Court today (Wednesday). The report says that the feasibility report provided by TCC was incomplete.

When the AG was approached by The Express Tribune, he confirmed that he had received the Balochistan government decision and will submit it to the supreme court. The court had earlier sought an explanation on details of the agreements between the Balochistan government and TCC.


TCC maintained that the feasibility report was completed and submitted to the Balochistan government earlier in August 2010 under an existing agreement between TCC and the government, the Chagai Hills Exploration Joint Venture Agreement (CHEJVA).

When TCC submitted the report, Balochistan was entitled as a 25% equity partner in the project, enabling it to profit additionally from the mine development and operations over and above the regular royalty and taxation payments. But later, on November 24 2010, the government of Balochistan had decided not to become a participant in the project.

Earlier, TCC had filed a notice of dispute (NoD) to seek more time to address the Balochistan government’s concern over granting the mining license.

According to a Balochistan government official, TTC can appeal in the court against the decision; however, the Balochistan government reserved the right to refuse to grant mining license and had decided that we would not grant it.

TCC, a joint venture between Canadian mining giant Barrick Gold and the Chilean mining company Antofagasta, had earlier applied for a mining licence in February 2011 after finding that a substantial amount of minerals is present at Reko Diq.



Reko Diq: Balochistan government refuses to grant license to Tethyan Copper – The Express Tribune
 
The Baloch government did a good thing. The previous government were robbing the people of Pakistan by giving away these treasures to a Zionist western country.

Let's see if the Baloch government ever plans to utilize the vast amount of natural resources in Balochistan to better the lives of the Baloch people.
 
Let's see if the Baloch government ever plans to utilize the vast amount of natural resources in Balochistan to better the lives of the Baloch people.

They probably wont but its better to find local expertise to extract these gold and copper mines. If not local expertise then a company from a friendly country that wont take most of our treasures and leave us with only a small fraction like this western zionist company Thethyan Copper was planning on doing.

Pakistan really needs to develop local expertises to extract these treasures that we have in our soil, and not only for copper and gold, also for coal, gas, and oil. India developed local expertise to extract their natural resources, so why cant Pakistan?
 
They probably wont but its better to find local expertise to extract these gold and copper mines. If not local expertise then a company from a friendly country that wont take most of our treasures and leave us with only a small fraction like this western zionist company Thethyan Copper was planning on doing.

Pakistan really needs to develop local expertises to extract these treasures that we have in our soil, and not only for copper and gold, also for coal, gas, and oil. India developed local expertise to extract their natural resources, so why cant Pakistan?

What sadden me is Indian developed to use their resources, is Pakistan going to follow them? It seems, Pakistan government doesn't have a brain and heart to progress. India start, then Pakistan start, if India didn't start, Pakistan will not start. :hitwall:

At least, good they didn't give contract licence to TCC.
 
They probably wont but its better to find local expertise to extract these gold and copper mines. If not local expertise then a company from a friendly country that wont take most of our treasures and leave us with only a small fraction like this western zionist company Thethyan Copper was planning on doing.

Pakistan really needs to develop local expertises to extract these treasures that we have in our soil, and not only for copper and gold, also for coal, gas, and oil. India developed local expertise to extract their natural resources, so why cant Pakistan?

Do you know anything about Thethyan or about projects they initiated for the welfare of the people around Reko deq. Do some research before riding the Zionist train. And sorry to burst your bubble, Pakistan neither has the resource or technical expertise’s to take any such projects.

I hope sense prevails and people stop posting about doing things for the greater good of the people by the people because our track record in last 64 years is pretty shitty.
 
Do you know anything about Thethyan or about projects they initiated for the welfare of the people around Reko deq. Do some research before riding the Zionist train. And sorry to burst your bubble, Pakistan neither has the resource or technical expertise’s to take any such projects.

I hope sense prevails and people stop posting about doing things for the greater good of the people by the people because our track record in last 64 years is pretty shitty.

I know that the western company was going to take away most of Pakistan's treasure and leave Pakistan with just a fraction of its worth that would be divided amongst the Baloch government and the federal government. So how was that western company going to benefit the PEOPLE of Pakistan?

These gold and copper reserves are worth a lot more. And Pakistan is a nation of 185 million with the 7th largest pool of scientists and engineers in the world. If you can not trust your own people and rather rely on a foreign company from the other side of the planet to steal your natural resources. Then God help you.
 

Latest posts

Back
Top Bottom