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

[Sayfullah]

They should add a point to that agreement that 95% of the workers on the mine must be Pakistani and 75% of the Pakistanis must be Baloch. Baloch workers must hold high positions in the mine and any village and community within 100 kms of the mine must be developed at the cost of the company. The must build hospitals, roads, schools and infrastructure in the area. Adding to that a mineral research institute must be set up in the area and Pakistanis must be taught the technology behind extracting these minerals so eventually after a decade or two we can do it indigenously. Only then should we accept 50% of the profits.

BIGGEST POINT OF ALL, ALL VALUE ADDITION WORK MUST BE DONE IN PAKISTAN IN BALOCHISTAN. We should ban the export of raw copper and gold only products refinery and made in Pakistan can be exported!

 

[SQ8]

The negotiations were done with contrived interest in mind when this was first agreed - and those in power then were to make a nice dollar amount. Unfortunately, since Pakistani have zero intelligence nor interest to hold anyone truly accountable other than pie in the sky promises of bringing looted money back - they must suffer the consequences. This is actually a decent face saving measure.

As for suggestions on not paying the fine,see if you can even get a reply back on RFIs leave alone RFPs in the future from any overseas firm. Pakistan government and even private sector Pakistani organizations will be labeled (more than they are already) as unreliable partners as best and renegade frauds at worst.

 

[peagle]

I agree with you. The person who negotiated for just 25% must have been an idiot.

50% is a lot better. But Pakistan still deserves more. It is our natural resources at stake here!

The only way we'll get more is when we develop these capabilities ourselves, till then we have to share. To be honest, even without the fine, this seems like a great deal.
Let's not forget, it will take lot of investment and technology to bring this project to fruition, and it will be a while before profits start flowing. They've done good.

Hopefully, we'll also absorb the knowhow and technology. Its a pity a country of 230 million cannot develop its own mines. But better late then never.

 

[PradoTLC]

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

What is the total value of the mine?

prevented from making a bad situation from getting worse.

your real question should have been who created the problem in the first place?

 

[CrazyZ]

BIGGEST POINT OF ALL, ALL VALUE ADDITION WORK MUST BE DONE IN PAKISTAN IN BALOCHISTAN. We should ban the export of raw copper and gold only products refinery and made in Pakistan can be exported!

Upstream processing of copper would benefit export oriented SEZ's in Gwadar. Copper wire and pipe is critical for all kinds low cost consumer items that can be exported. From ore to wire to motor winding to an exported toy......all can be done in Baluchistan. Value added chain can lift millions out of poverty.

 

[Sayfullah]

Upstream processing of copper would benefit export oriented SEZ's in Gwadar. Copper wire and pipe is critical for all kinds low cost consumer items that can be exported. From ore to wire to motor winding to an exported toy......all can be done in Baluchistan. Value added chain can lift millions out of poverty.

Agreed but we need to ensure it’s done In Pakistan. We should make it a law not to export raw materials but export only after value addition work is done in Pakistan. Since the mine is in Balochistan the value addition work should happen there too. This alone can develop Balochistan.

 

[Darth Vader]

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

What is the total value of the mine?

50% of something is better than 100% of nothing.

Do you see steps being implemented even in next 2 decades to mine and refine or use any of these resources.

1 Pakistan doesnt have the expertise, experience or funds to go on these goose chase of mining these resources.

Lets say its split that will create jobs for local develop mining industry in Pakistan atleast in that region yes in the start Pakistan will play a small role but after few years, Local industry can start on JV with other international companies.
For Pakistan to use its natural resources you need to train young generation from college.
Invest in Private companies so they can learn modern techniques.
You need satellite and countless other kind of data just for surveys.
In many instances its worth not mining just because turn will be so low and it will only have negative affect.
Pakistan cant spent few cool billions on these projects and wont have anything to show

 

[Norwegian]

After the Turkish company $1bln fine this is the second save by IK govt in just three years. Both Turk and TCC cases were lost and fines imposed during the PMLn tenure and NS regime rule. Just like the foreign debt and economic mess, PTI is cleaning this up as well.

So in summary NS govt left us with $6bln fine and 25% share. The PTI govt saved the $6bln fine and doubled Pakistans share to 50%.

@Pakistan Space Agency
@FOOLS_NIGHTMARE

Stop waking up Patwaris for God's sake @ziaulislam

Its a pity a country of 230 million cannot develop its own mines.

Mines? Nation of 230 millions has less than 30 billion dollars exports since 2010

 

[Pandora]

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

What is the total value of the mine?

Considering Pakistan doesnt have to pay a dime to invest and operate it is definitely good for us. The operational costs as well as setup costs for such are large mine is not a small figure. We would call it an unfair deal if Pakistan had 3-4 billion to setup a mine and spend over 1-200 million every year to operate it. Keep
in mind china wasnt even offering us 50% profits from the mine.

 

[OldenWisdom...قول بزرگ]

The only way we'll get more is when we develop these capabilities ourselves, till then we have to share. To be honest, even without the fine, this seems like a great deal.
Let's not forget, it will take lot of investment and technology to bring this project to fruition, and it will be a while before profits start flowing. They've done good.

Hopefully, we'll also absorb the knowhow and technology. Its a pity a country of 230 million cannot develop its own mines. But better late then never.

Pakistanis want to fly before learning how to walk. In this case if they can split the asset itself, as in the mine 50/50.
They'll have parallel opportunity, to develop and operate their portion of it while profiting from the existing.
The proceeds can than be channeled into a world class institute of mining, tooling, designing and producing needed equipment for future growth.
Pakistan simultaneously needs a capacity to mine, refine and produce Lithium. Which requires tangible investment just to be an also ran in this field instead of being spectator once again.

 

[Pakistansdefender]

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

What is the total value of the mine?

Dude they would mine it. And develop the mines and also the area. This is the standard procedure better then the previous ones. 30 to 40 percent would ne spend on infrastructure, security and staff slaries.
Ita better then 25 percent before and 10 billion dollars in fine.
Do one thing dude.
Make a mining comoany yourself and next time when they offer mining. As this cutrent regime is offering blocks for exploration. Bid for it and mine.
They would export material from Pakistan and if they process in Pakistan and export then Pakistan would have huge export bill..

 

[Wood]

Considering Pakistan doesnt have to pay a dime to invest and operate it is definitely good for us. The operational costs as well as setup costs for such are large mine is not a small figure. We would call it an unfair deal if Pakistan had 3-4 billion to setup a mine and spend over 1-200 million every year to operate it. Keep
in mind china wasnt even offering us 50% profits from the mine.

What was China offering? I believe that there is another mine in the area that is managed by then?

 

[Pakistansdefender]

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.

Before you make people emotional.. Just go and read international practices. It was sold off for 25 percent stake. 50 percent is still better. Though it should be 60 to 65 percent had we not been fined.

 

[Clutch]

You idiots. This is actually a reasonable solution. You guys who are crying over the 50% number are fools who know nothing about natural resource recovery!

Fist of all... It offsets the $6Billion penalty. Second it changes the terms from the criminal 75% the past idiots signed to a 50%>>> and most importantly... You have to realize that land mineral rights are allocated for a defined boundary.... It's not like the mineral lease is for entire Balochistan... If this high risk mining operation, is successful and proves that the reserves are there i.e proven reserves... That means the rest of the mineral lease lands can be developed at favorable terms and international investors will flock to Pakistan to develop those other area because the potential has been proven.

Idiotic PML and PPP corrupt. .

 

[Falconless]

Who's holding a gun to us asking us to pay the fine? **** them, don't pay it, instead spend a few hundred million buying some experts

They were starting to repossess Pakistani Assets Overseas, for instance they had put injunction on PIA’s hotels in New York and Paris to prevent their sale or modification