Barrick Gold delegation meets PM: Reko Diq feasibility study due by year-end

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Prime minister say Reko Diq project will prove to be game changer for development of Balochistan and region
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A delegation from Barrick Gold Company, led by Chief Executive Officer Mark Bristow, met Prime Minister Shahbaz Sharif on Friday. They informed him that the feasibility study for the Reko Diq project in Balochistan would be completed by the end of the current year.

The prime minister expressed his belief that the Reko Diq project would be a game changer for the development of Balochistan and the wider region. He stated, "This project will usher in a new era of development of the province and prosperity of the people."

He also said planning would be done regarding communication infrastructure, particularly railway lines, to fully utilise Balochistan's mineral resources.

Furthermore, the prime minister urged Barrick Gold to consider investing in other mineral projects within the province. He suggested potential collaboration between the government and Barrick Gold to establish a technical university in Chagai district.

Read also: Reko Diq operator hosts vendor expo

The government, he noted, is committed to facilitating investors, particularly in the areas of road and communication systems.

In terms of the progress of the Reko Diq project, the Barrick Gold delegation reported that the feasibility study would indeed be concluded by the end of the current year. They highlighted the company's prioritisation of employing local and Balochistan domiciled individuals for the project.


Additionally, Barrick Gold disclosed their efforts in corporate social responsibility, including the establishment of three schools near Reko Diq and the provision of technical training to 100 individuals, including women.

The meeting was attended by Petroleum Minister Musadik Malik, Federal Minister for Law and Justice Azam Nazir Tarar, Deputy Chairman of the Planning Commission Muhammad Jehanzeb, and other relevant senior government officials.
 
It was earlier reported that Reko Diq will start making money by 2025. But if feasibility is still not complete, then it may actually take 2027 or so. :cautious:

Edit: Seems like first production target is at 2028!

 

Seems like Saudi Kingdom is planning to buy the 25% federal stake of Pakistani gov. in the Reko Diq mines. If it comes to fruition, then Pakistan could get enough $$ to pay off most (if not all) of its external debt :)
 
@Wood Saar,

What is the value of the GOP's 25% equity share of Reqo Diq?

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The mine's total lifetime worth depends on commodity future prices for decades to come. Any $ quoted is purely speculative, as no one can predict the future. But I've seen figures from $75 to $200 billion quoted in this forum. For 25% equity, I would expect Saudi to pay about $25 or $30 billion. :cool:
 
It was earlier reported that Reko Diq will start making money by 2025. But if feasibility is still not complete, then it may actually take 2027 or so. :cautious:

Edit: Seems like first production target is at 2028!

qarzay ka nasha ghar ka samaan bech kar puura karo :D
 

Seems like Saudi Kingdom is planning to buy the 25% federal stake of Pakistani gov. in the Reko Diq mines. If it comes to fruition, then Pakistan could get enough $$ to pay off most (if not all) of its external debt :)
How much Biryani have you consumed today?
 
The mine's total lifetime worth depends on commodity future prices for decades to come. Any $ quoted is purely speculative, as no one can predict the future. But I've seen figures from $75 to $200 billion quoted in this forum. For 25% equity, I would expect Saudi to pay about $25 or $30 billion. :cool:
Saudi Arabia ain’t gonna pay a nickel to Pakistan. These are just empty promises, just like they did a million times before.
 
Monetization of resources is fundamental to any economy. Middle Eastern countries do the same as well. PM Shehbaz will surely make the best deal for Pakistan :cool:
More Biryani overdose as usual.
 
Isn't Barrick Gold the company that looted Pakistan once.
 

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