Balochis to become Rich Sheikhs - CPEC Mineral-rich Balochistan to open up to China ‘Silk Road’ firm

[Clutch]

QUETTA: The resource-rich Balochistan wants Chinese companies to kick-start a boom in its mining industry by including the sector into Beijing’s “Belt and Road” initiative, a senior provincial mining official said.

Beijing has pledged $57 billion for the China-Pakistan Economic Corridor (CPEC), a flagship “Belt and Road” project that first focused on Chinese firms building roads and power stations but is now expanding to include setting up industries.

Mineral extraction is a deeply contentious issue in Balochistan as the province remains the country’s poorest despite its vast mineral wealth.

Balochistan has a significant natural gas industry but large-scale mining has failed to take off. Foreign firms have been put off by security fears and a high-profile litigation case with Canada’s Barrick Gold and Chile’s Antofagasta over Reko Diq, one of the world’s biggest undeveloped gold and copper mines, in the province.

‘Pakistanis given equal employment in CPEC projects’

Saleh Muhammad Baloch, the province’s top mining official, said the plan is for Chinese companies chosen by Beijing to team up with local firms to mine marble, chromite, limestone, coal and other minerals, and set up steel mills and other plants.

“They will come as partners and technically support us,” Baloch, who is the secretary for mines, told Reuters in Quetta this week. Baloch said the province wanted the projects to be set up close to the source of raw materials and near the new CPEC roads that will connect western China with the Arabian Sea port of Gwadar, in Balochistan.

A profit-sharing formula will also be negotiated. Baloch said the finer details of the province’s proposals were being worked out in Islamabad, where officials are finalising plans for special economic zones and greater integration of Chinese companies into Pakistan’s economy.

‘First round of CPEC projects to be completed by 2018’

He cited the Saindak copper and gold mine, operated by a subsidiary of state-run China Metallurgical Group Corporation, as an example to follow. The mine has been given export privileges and enjoys big tax breaks. However, extraction of precious metals, such as copper and gold, will not fall under the CPEC remit.

“As far as precious metals are concerned, we will go for competitive bidding internationally,” Baloch said. Balochistan is seeking formal expressions of interest by international companies for an exploration block in the Tethyan belt, which boasts big copper and gold deposits. The H4 block has estimated deposits of 148 million tonnes. “Chinese, Australian, Turkish (companies)…are all interested,” Saleh said.

The H4 block is nearby the much richer Tethyan belt blocks mired in a legal dispute in international courts between Pakistan and Tethyan Copper Company, which is owned by Barrick Gold and Antofagasta. Barrick Gold estimates a $3 billion investment would be needed for the mine. Baloch said he could not comment on the Reko Diq case due to the legal cases.

The post Mineral-rich Balochistan to open up to China ‘Silk Road’ firms appeared first on The Express Tribune.

 

[NOWorNEVER]

The government of resource-rich Balochistan wants Chinese companies to kick-start a boom in its mining industry by including the sector into Beijing's Belt and Road Initiative, a senior provincial mining official said.

Beijing has pledged $57 billion for the China-Pakistan Economic Corridor (CPEC), a flagship Belt and Road project that first focused on Chinese firms building roads and power stations but is now expanding to include setting up industries.

Mineral extraction is a deeply contentious issue in Balochistan, where many indigenous people are angry that the province remains the country's poorest despite its vast mineral wealth.

Balochistan has a significant natural gas industry but large-scale mining has failed to take off.

Foreign firms have been put off by security fears and a high-profile litigation case with Canada's Barrick Gold and Chile's Antofagasta over Reko Diq, one of the world's biggest undeveloped gold and copper mines, in the province.

Saleh Muhammad Baloch, the province's top mining official, said the plan is for Chinese companies chosen by Beijing to team up with local firms to mine marble, chromite, limestone, coal and other minerals, and set up steel mills and other plants.

“They will come as partners and technically support us,” Baloch, who is Balochistan's secretary for mines, told Reuters in Quetta this week.

Baloch said the province wanted the projects to be set up close to the source of raw materials and near the new CPEC roads that will connect western China with the Arabian Sea port of Gwadar.

A profit-sharing formula will also be negotiated.

Baloch said the finer details of the province's proposals were being worked out in Islamabad, where officials are finalising plans for special economic zones and greater integration of Chinese companies into Pakistan's economy.

He cited the Saindak copper and gold mine, operated by a subsidiary of state-run China Metallurgical Group Corporation, as an example to follow. The mine has been given export privileges and enjoys big tax breaks.

However, extraction of precious metals, such as copper and gold, will not fall under the CPEC remit.

“As far as precious metals are concerned, we will go for competitive bidding internationally,” Baloch said.

Balochistan is seeking formal expressions of interest by international companies for an exploration block in the Tethyan belt, which boasts big copper and gold deposits.

The H4 block has estimated deposits of 148 million tonnes.

“Chinese, Australian, Turkish (companies) ... are all interested,” Baloch said.

The H4 block is nearby the much richer Tethyan belt blocks mired in a legal dispute in international courts between Pakistan and Tethyan Copper Company, which is owned by Barrick Gold and Antofagasta.

Barrick Gold estimates a $3 billion investment would be needed for the mine. Baloch said he could not comment on the Reko Diq case due to the legal cases.
https://www.reuters.com/article/amp/idUKKBN18T1RY

https://www.nation.com.pk/national/...n-up-balochistan-to-china-silk-road-firms/amp

 

[hydrabadi_arab]

Unrealistic, no country became rich on the back of minerals. See african countries with many times more mineral resources then Pakistan.

 

[hydrabadi_arab]

Bad move, Balochistan minerals shouldn't be extracted. BLA will use this as propaganda while Balochistan government will not gain much but only loss with insurgency.

 

[Clutch]

Unrealistic, no country became rich on the back of minerals. See african countries with many times more mineral resources then Pakistan.

Gulf Arab region. It's how you developed the resource counts. Do you think the Arabs discovered that oil?

 

[hydrabadi_arab]

Gulf Arab region. It's how you developed the resource counts. Do you think the Arabs discovered that oil?

Tell me which country became like Gulf arabs selling gold, copper, marble etc Oil is different ball game.

 

[Clutch]

Tell me which country became like Gulf arabs selling gold, copper, marble etc Oil is different ball game.

They all resources.... Including oil.

Resource dependent countries are for example Canada, Australia... again it depends how you developed the resource and benefit from it's extraction.

However it is true a lot of resource export dependent nations like in Africa has suffered... this is because as I quote, "resource-rich countries often do not pursue sustainable growth strategies. They fail to recognize that if they do not reinvest their resource wealth into productive investments above ground, they are actually becoming poorer. Political dysfunction exacerbates the problem, as conflict over access to resource rents gives rise to corrupt and undemocratic governments."... this is what pakistan need to avoid.

 

[Secular_Muslim]

CPEC is the future.

 

[POPEYE-Sailor]

Bad move, Balochistan minerals shouldn't be extracted. BLA will use this as propaganda while Balochistan government will not gain much but only loss with insurgency.

Balochistan minerals shouldn't be extracted. Why , India will come and extract minerals from balochistan ? let me tell u one more factor extraction company will brings employment on those area and baloch will get jobs

 

[maximuswarrior]

Unrealistic, no country became rich on the back of minerals. See african countries with many times more mineral resources then Pakistan.

Stop talking rubbish. As long as Pakistan doesn't enrich a few, but properly distributes the wealth among all citizens it is bound to benefit the nation.

Stupid Indian logic never makes sense.

 

[Counterpunch]

I think we need to give this a serious thought. Chinese and Pakistanis, culturally, are galaxies apart. And unless we have clearly chalked down boundaries we might be in for another wave of cultural intrusion after the gun/opium culture from Afghanistan

We must, at all costs, first ensure well being of a common Pakistani financially, religiously, emotionally and culturally. Those who have had the experience of working with Chinese first hand would know what I mean. The CPEC must not be seen as a favor by Chinese but a mutual win-win situation. No development should come at the cost of National honor. I hope people at the helms of affair have an eye on this.

 

[maximuswarrior]

I think we need to give this a serious thought. Chinese and Pakistanis, culturally, are galaxies apart. And unless we have clearly chalked down boundaries we might be in for another wave of cultural intrusion after the gun/opium culture from Afghanistan

We must, at all costs, first ensure well being of a common Pakistani financially, religiously, emotionally and culturally. Those who have had the experience of working with Chinese first hand would know what I mean. The CPEC must not be seen as a favor by Chinese but a mutual win-win situation. No development should come at the cost of National honor. I hope people at the helms of affair have an eye on this.

China has displayed enormous goodwill to the people of Pakistan. The enormous infrastructure and energy projects are going to benefit the Pak masses. CPEC is a two way street. It is also going to benefit China. I also believe that the extraction of natural resources in particularly Baluchistan needs to be a flawless undertaking. The wealth needs to trickle down and the Baluch people really need to feel and see the benefits. I'm sure both Pakistan and China are extremely cautious.

 

[Counterpunch]

China has displayed enormous goodwill to the people of Pakistan. The enormous infrastructure and energy projects are going to benefit the Pak masses. CPEC is a two way street. It is also going to benefit China. I also believe that the extraction of natural resources in particularly Baluchistan needs to be a flawless undertaking. The wealth needs to trickle down and the Baluch people really need to feel and see the benefits. I'm sure both Pakistan and China are extremely cautious.

I think it would still be beneficial if we have a chalked down plan for avoiding any potential slippages so that both the parties know their bounds and also the locals , rightfully, can feel more assured. This will only preemptively mitigate any grey-area playing by Indian funded Brahamdaghs and the likes

 

[Bharat Muslim]

QUETTA: The resource-rich Balochistan wants Chinese companies to kick-start a boom in its mining industry by including the sector into Beijing’s “Belt and Road” initiative, a senior provincial mining official said.

Beijing has pledged $57 billion for the China-Pakistan Economic Corridor (CPEC), a flagship “Belt and Road” project that first focused on Chinese firms building roads and power stations but is now expanding to include setting up industries.

Mineral extraction is a deeply contentious issue in Balochistan as the province remains the country’s poorest despite its vast mineral wealth.

Balochistan has a significant natural gas industry but large-scale mining has failed to take off. Foreign firms have been put off by security fears and a high-profile litigation case with Canada’s Barrick Gold and Chile’s Antofagasta over Reko Diq, one of the world’s biggest undeveloped gold and copper mines, in the province.

‘Pakistanis given equal employment in CPEC projects’

Saleh Muhammad Baloch, the province’s top mining official, said the plan is for Chinese companies chosen by Beijing to team up with local firms to mine marble, chromite, limestone, coal and other minerals, and set up steel mills and other plants.

“They will come as partners and technically support us,” Baloch, who is the secretary for mines, told Reuters in Quetta this week. Baloch said the province wanted the projects to be set up close to the source of raw materials and near the new CPEC roads that will connect western China with the Arabian Sea port of Gwadar, in Balochistan.

A profit-sharing formula will also be negotiated. Baloch said the finer details of the province’s proposals were being worked out in Islamabad, where officials are finalising plans for special economic zones and greater integration of Chinese companies into Pakistan’s economy.

‘First round of CPEC projects to be completed by 2018’

He cited the Saindak copper and gold mine, operated by a subsidiary of state-run China Metallurgical Group Corporation, as an example to follow. The mine has been given export privileges and enjoys big tax breaks. However, extraction of precious metals, such as copper and gold, will not fall under the CPEC remit.

“As far as precious metals are concerned, we will go for competitive bidding internationally,” Baloch said. Balochistan is seeking formal expressions of interest by international companies for an exploration block in the Tethyan belt, which boasts big copper and gold deposits. The H4 block has estimated deposits of 148 million tonnes. “Chinese, Australian, Turkish (companies)…are all interested,” Saleh said.

The H4 block is nearby the much richer Tethyan belt blocks mired in a legal dispute in international courts between Pakistan and Tethyan Copper Company, which is owned by Barrick Gold and Antofagasta. Barrick Gold estimates a $3 billion investment would be needed for the mine. Baloch said he could not comment on the Reko Diq case due to the legal cases.

The post Mineral-rich Balochistan to open up to China ‘Silk Road’ firms appeared first on The Express Tribune.

Isn't it mysterious that a corrupt politician like Nawaz Sharif became PM of Pakistan against all odds after he finished his exile (self-imposed exile?) and right on cue the CPEC (the anti-Pakistan project) started?

 

[Clutch]

Isn't it mysterious that a corrupt politician like Nawaz Sharif became PM of Pakistan against all odds after he finished his exile (self-imposed exile?) and right on cue the CPEC (the anti-Pakistan project) started?

No conspiricy here... in Pakistani politics it just a merry go round of the same knuckleheads.
If CPEC is it truly was destructive for pakistan then every Hindutva Indian (like yourself) would have been singing praises of it... the fact Hindutva aren't means it is good for pak... simple logic.