Major Breakthrough: Pakistan and Tethyan Copper Company(TCC) have agreed over 50 per cent shares over Reko Diq

[hydrabadi_arab]

Those minerals are the Haq of every single citizen of this country.

1. Nobody can make us pay a fine.
2. We can borrow to invest.

A few billion dollars is a pittance.

They are going to spend $3 billion and earn $120 billion.

That is more than our total debt.

Its not that easy. Balochistan govt already tried that by believing in BS of Samarkand, wasted billions of rupees in Reko Diq and didn't go anywhere. Now Balochistan govt doesn't even want to invest penny in Reko Diq and is just negotiating max possible share in the deal.

 

[313ghazi]

If you want to have any working relationship with the western world, you will have to pay the fine. Otherwise courts around the world will cease your assets that are in their jurisdiction. Case in point PIA aircraft and PIA hotels in NY were seized based on courts direction.

We have next to no assets. A poxy hotel? Let them have it.

Privatise PIA, another asset they can't access.

We don't have to refuse to pay the fine, just make BS cases to keep deferring payment.

For example we could start prosecuting someone for taking a bribe to sign the original deal. Claim the entire deal was dirty. Run that for years in our courts forcing the other courts to wait.

Its not that easy. Balochistan govt already tried that by believing in BS of Samarkand, wasted billions of rupees in Reko Diq and didn't go anywhere. Now Balochistan govt doesn't even want to invest penny in Reko Diq and is just negotiating max possible share in the deal.

People were mining gold hundred of years ago. Its not that hard either.

 

[Patriot forever]

Based on some crude calcs the mine is going to produce about $1.3 billion worth of minerals a year.
It could be worth at least $260 billion.

We're giving 50% away to a foreign company.

Its fucking criminal.

IMO

There is a huge cost to mining metals.

Whatever the profits made will be shared 50%.

We have open pit coal mining but still with us mining thar coal it costs us around $30-35/ton with the improved capacity recently. This is the pure mining/extraction cost.
Suppose that mined lignite is sold for $40/ton, the profit is 10 dollars it will be shared between the government and mining company.

Metals are much more expensive to mine and cost more as well.

I think we are pretty much near international conditionalities. If more informed person can share how some details of mining companies contracts with governments?

 

[JawadKKhan]

50% of our precious national resources and we consider it a win. Pathetic.

What is the total value of the mine?

You should only question our previous govts & judiciary for this mess. The mines have not produced anything yet. These gold mine diggings involves lot of man-power, machinery and no guarantees whether the gold or other resources will be found or not thats why Govts do agreements with these companies that IF any resource is found then you will get massive shares. These shares are internationally at this rate. Pakistan simply didn't had enough funds to keep digging itself at various places.. So anything was a win for Pakistan anyway.. Pakistan wasn't paying anything at all for digging. The revenue from the prize (if found) is decided as final in these agreements. It can never be unilaterally ended. So we did 2 mistakes. First we agreed on lower revenue for the state and second the biggest blunder was done by judiciary, chief justice Iftikhar without any sense of international agreements ended it. That company already had spent millions in infrastructure & digging, you can never end it at this stage. That person is responsible for 6 billion USD loss.

 

[Hyde]

Well, I am surprised to hear about this deal. I think it is a good outcome given we have wasted 15 years for nothing. It might help aid our economy with precious metals

 

[Type59]

People want 100 percent profits. Your getting 100 percent of nothing

 

[CrazyZ]

Based on some crude calcs the mine is going to produce about $1.3 billion worth of minerals a year.
It could be worth at least $260 billion.

We're giving 50% away to a foreign company.

Its fucking criminal.

We don't have the capitol or tech to develop it. We should honor our contracts, restoring confidence for other international investors. As long as this is within international norms......thier is nothing criminal about it. They will create jobs and profits can be taxed.

 

[Trango Towers]

Based on some crude calcs the mine is going to produce about $1.3 billion worth of minerals a year.
It could be worth at least $260 billion.

We're giving 50% away to a foreign company.

Its fucking criminal.

Foreign or domestic...it would have been stolen anyways

 

[CrazyZ]

Foreign or domestic...it would have been stolen anyways

If the Sharifs were in charge.......80% of the money would go back into London real estate .

 

[Patriot forever]

50% of our precious national resources and we consider it a win. Pathetic.

What is the total value of the mine?

This will give some idea of mining costs associated with copper mines.

When the copper prices are lower companies barely make ends meet.

Most of this mining costs will go into our local economy. Whatever profits earned will be shared 50% each.

 

[CrazyZ]

I've read in older threads from PDF that this mine is worth a trillion dollars!

At the rate western nations are printing money....gold and copper could skyrocket and 100 billions today could be trillions tomorrow. Its why Barrick settled, IMO.

 

[Crimson Blue]

50% of our precious national resources and we consider it a win. Pathetic.

It was only 2% share beforecurrent government renegotiated to 50% and saved country from $6B penalty from International Court.

You never mentioned that 2% negotiated by PPP & PMN(N) was pathetic deal?

And 50% is Pathetic compared to 2%...... only on PDF.

 

[313ghazi]

It was only 2% share beforecurrent government renegotiated to 50% and saved country from $6B penalty from International Court.

You never mentioned that 2% negotiated by PPP & PMN(N) was pathetic deal?

And 50% is Pathetic compared to 2%...... only on PDF.

Do you honestly think I feel that 2% was a better deal? We are discussing national interest of Pakistan and you want to do gutter siyasat about which party is bigger harami.

 

[Kambojaric]

It was only 2% share beforecurrent government renegotiated to 50% and saved country from $6B penalty from International Court.

You never mentioned that 2% negotiated by PPP & PMN(N) was pathetic deal?

And 50% is Pathetic compared to 2%...... only on PDF.

Agreed, this deal has to be seen taking into context the past. It's not bad considering the fine we were due to pay. Also let's not forget to mention the genius who started this whole fiasco https://tribune.com.pk/story/2013028/reko-diq-case-ex-cjps-verdict-costs-pakistan-6b

 

[313ghazi]

This will give some idea of mining costs associated with copper mines.


View attachment 810165

When the copper prices are lower companies barely make ends meet.

Most of this mining costs will go into our local economy. Whatever profits earned will be shared 50% each.

I was reading here that a Brazilian mine is mining copper at a cost of $1400 per tonne.

RANKED: Top 10 lowest cost copper mines

Canada's First Quantum Minerals boasts three mines in the Top 10 based on all-in sustaining costs reported in the second quarter.

www.mining.com

If its selling at 3 times that... That's just the raw product - products such as pipe and wire sell for many times more.

It's not hard to make products.

Agreed, this deal has to be seen taking into context the past. It's not bad considering the fine we were due to pay. Also let's not forget to mention the genius who started this whole fiasco https://tribune.com.pk/story/2013028/reko-diq-case-ex-cjps-verdict-costs-pakistan-6b

I feel we're selling ourselves short. PPP and PMLN are enemies of Pakistan. Comparison to them is worthless.