Barrick Gold is coming back to Reko Diq

[Enigma SIG]

make it 80%

What is Pakistan's contribution to the 80%? Just the mine?

Without the machinery, knowledgebase, market access that the Mining conglomerate provides, the gold in the ground is worth nothing. Consider that the company will be employing locals; including ToT hence Pakistan's actual share is higher, you can't put a price on knowledge.

 

[Aasimkhan]

What is Pakistan's contribution to the 80%? Just the mine?

Without the machinery, knowledgebase, market access that the Mining conglomerate provides, the gold in the ground is worth nothing. Consider that the company will be employing locals; including ToT hence Pakistan's actual share is higher, you can't put a price on knowledge.

80% Just the mine ? Bhai we are 100% owners and we give away 50% just for services ? thay want 250 billion USD for the services ?

 

[Imad.Khan]

Reko Diq has 500 billion dollars worth of gold, 50% (which Barrick will get) comes to 250 billion dollars. Just to avoid 11 billion dollar fine we are agreeing to pay 250 billion dollars ? am I right ?

Let me explain it in this fashion, say you had a factory, would you do all the tasks to run the factory profitably yourself or would you hire people that would run the factory for you?

Similarly you have hired a company that would build the mine, run it and sell the product and in return they will give you 50% of the profits.

 

[Type59]

100% gets nothing done.


100% of 0 is still 0 buddy.

Pakistan is therefore way behind.

Learn to partner in economic benefit.

make it 80%

Asimkhan post proves my point. Opponents will demand more of share, soo good luck to deal. The SC and next government will modify deal resulting in more delays.

 

[AZ1]

I think 250 billion USD is too big a profit to pay to a company, afterall we have only 100 billlion USD loan in 72 years

If its of no use to public now then whats the use ? just for books that we have this and that.

if they transfer us technology also that would be good.

 

[Aasimkhan]

If its of no use to public now then whats the use ? just for books that we have this and that.

if they transfer us technology also that would be good.

Bro please excuse my ignorance, please justify and quantify and qualify the 250 billion USD we have decided to give to Barrick ? What is the justification for this amount ?

 

[Imad.Khan]

If its of no use to public now then whats the use ? just for books that we have this and that.

if they transfer us technology also that would be good.

Why would they transfer you technology? They are a private firm whos job is to make money. They are not a school.

Infact the technology used in mining is readily available if someone is interested in it. Universities around the world have degrees on different aspects of the mining industry. So its not a secret.

The biggest hurdle is that mining is a very capital intensive industry.

Australia is a small country ( population wise) but its a giant in the field of mining, maybe Pakistan should make a deal with Australia to have students trained in the different mining fields and the country foots the bill. That is the only way Pakistan is going to get the knowledge and experience to be able to mine for itself.

 

[Aasimkhan]

Why would they transfer you technology? They are a private firm whos job is to make money. They are not a school.

Infact the technology used in mining is readily available if someone is interested in it. Universities around the world have degrees on different aspects of the mining industry. So its not a secret.

The biggest hurdle is that mining is a very capital intensive industry.

Australia is a small country ( population wise) but its a giant in the field of mining, maybe Pakistan should make a deal with Australia to have students trained in the different mining fields and the country foots the bill. That is the only way Pakistan is going to get the knowledge and experience to be able to mine for itself.

Rising gold mining costs Q1'21| Gold Focus | World Gold Council

Costs in the gold mining industry increased for the second consecutive quarter in Q1’21. Read more on this blog post by Adam Webb

www.gold.org

Costs in the gold mining industry is US$1,048/oz. Multiply 1048 with total amount of Gold and you will get the amount required for extraction

 

[Imad.Khan]

Rising gold mining costs Q1'21| Gold Focus | World Gold Council

Costs in the gold mining industry increased for the second consecutive quarter in Q1’21. Read more on this blog post by Adam Webb

www.gold.org

Costs in the gold mining industry is US$1,048/oz. Multiply 1048 with total amount of Gold and you will get the amount required for extraction

Sounds about right. But did you understand my reply to your post?

 

[Aasimkhan]

Sounds about right. But did you understand my reply to your post?

I am not an expert but I LIKED your reply if you note

 

[CrazyZ]

I think 250 billion USD is too big a profit to pay to a company, afterall we have only 100 billlion USD loan in 72 years

Bulls make money, Bears make money, Pigs get slaughtered. Don't get too greedy.

 

[Aasimkhan]

Sounds about right. But did you understand my reply to your post?

I am not an expert but I LIKED your reply if you note

Bulls make money, Bears make money, Pigs get slaughtered. Don't get too greedy.

220 million people get 50% one small company gets rest of the 50%, this is rip off

 

[Imad.Khan]

I am not an expert but I LIKED your reply if you note

I meant post# 63, just wanted to know if my reply made sense.

 

[CrazyZ]

I am not an expert but I LIKED your reply if you note

220 million people get 50% one small company gets rest of the 50%, this is rip off

Better then 0. Even if 100% went to Pakistan. 75% would end up in the hands of corrupt elites that would send it overseas anyway.

 

[Aasimkhan]

Better then 0. Even if 100% went to Pakistan. 75% would end up in the hands of corrupt elites that would send it overseas anyway.

75% would end up in the hands of corrupt elites in any case, I mean 75% of the 50% of the 500 Billion USD we will get