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Pakistan welcomes venture’s willingness for negotiated settlement after Reko Diq mine ruling

for crying out aloud, try to setup your own mining industry. why are you giving nations assets for peanuts. :angry::angry::angry:
There's the slave mentality right the very top of the state where policies are made and decisions are taken. If they were not controlling the country, the nation would have gone forward.
 
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Privatization only leads to outsiders controlling companies of your country. You want zionists and their shills controlling Pakistani companies?
The world is a global economy, you need to see it for what it is. It happens in all countries across the world.
 
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There's the slave mentality right the very top of the state where policies are made and decisions are taken. If they were not controlling the country, the nation would have gone forward.
they are crooks in all shapes and sizes.
 
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You fellows are so simplistic! It is a classic good cop, bad cop technique by the jewish bloody sucking leeches who want to steal this wealth. What is the potential of Reko? Some estimates about $500 Billion of Gold.

Think about the barbarism here - these mines belong to the People of Pakistan. And yet they cannot extract mineral wealth from these mines and cannot even decide who has the legal right to do this just because a FOREIGN Entity sitting thousands of miles away decides the fate of a mine located in a so called sovereign country!

Anyone sitting in the corridors of Power in Pakistan including the Military should be shamed of themselves for allowing such horrendous act to take place.

And then reconfirms my personal belief that this country is in total control of a vicious mafia who steals the wealth of this country whenever it likes, and keeps the people of this country slaves.
I'm sure we all feel the same way you do. However, the problem is the Pakistan is simply too weak to do anything about it. If this was China, you can bet that they would have been able to arm-twist this company, the international court they used, and whatever international organization necessary to get them an outcome that favors their national interest.

The only way Pakistan can avoid this company is to leave the WTO (World Trade Organization) and due what many argue for, full Islamic state using currency based on gold-standard. You can also tell the IMF to go screw themselves and not pay back their loans, or at least give back the principal without interest. The problem is that foreign investors, aside from GCC & maybe China, will probably avoid investing in Pakistan due to lack of international arbitration like this one. Pakistan, unfortunately, is dependent on foreign investors like these for almost everything.

(1) it is an importing nation
(2) it can hardly produce anything aside from agriculture & textiles
(3) it has no engineering & industrial base to sustain the country let alone power its industrialization (1960's were the opposite).
(4) it does not even have the technology to mine its own natural resources
(5) it does not even have the technology to build or upgrade its railways!

in order to avoid this settlement, Pakistan needs to be able to stand on its feet. It must be able to produce everything indigenous and locally. Iran is an example to follow. They were & are sanctioned to the teeth, yet they still produce electronics, oil & gas extraction plants, ships, cars, rail, pharmaceuticals, chemicals, etc. They have come a long way in becoming self-sufficient. Just look at they shot down the drone in the Gulf with their own SAM? On the other hand, Pakistan is begging China to build or upgrade its railways/highways/ports. These are all basic things that country like Pakistan should be able to do. Iran has connected its country with rail & roads by itself, yet Pakistan has pay billions to China just to build rail!

Pakistan doesn't have the education system or STEM "science technology engineering mathematics" base to achieve similar level of self-sufficiency. The only real effort made to improve education & STEM base was during Musharraf's time under leadership of Atta-ur-Rehman. The moment democracy kicked in with Zardari, HEC lost funding, the rest is history.

Now Atta-ur-Rehman is working under PTI to revive focus on education, the problem is that Imran Khan is too weak politically to do anything. He doesn't have majority and is blackmailed by parties that won as little as one seat. There is the issue of having no money. Now there is the issue of no one wanting to pay taxes. Here in the US, K-12 public school education is free due to the revenue gained from taxpayers. As long as Pakistani's do not pay taxes, you cannot afford to fund education on a massive scale. You can't even afford to build roads, rail, dams, ports, etc. That's why Pakistan will continue to hold the begging bowl as long as people continue to protest against taxes.
 
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I hope there is an amicable solution. The amount is massive and will hurt. The development of the mine should go ahead with the necessary checks.
With a 5.9 Billion dollar damages awarded to it, if a company is willing to negotiate with the government, there might be something else brewing under the surface. Your government should relook at the situation as it seems the mining company has more to gain in the area if it ends up getting exclusive rights and drains Pakistan of its own resources by dangling this 5.9 billion damages thing. Especially of the current government, this should not become a bone stuck in the throat few years down the line.
 
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BC 1980 se books main read ker raha hoon we got gold and copper when it fianally came time to extract it a outside company gets 100% of value of gold/copper without digging one nugget from ground

People should be hanged who gave out this contract to foreign country considering Minning is a oldest of all Human Activites , just need simple man power and digging


Road construction ~ Humans have been doing it since 1800
Mining ~ Humans have been doing it 300-400 years ago
 
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The world is a global economy, you need to see it for what it is. It happens in all countries across the world.

So??

What does the global economy have to do with Privatization or Govt. controlled companies??

Of the top 5 revenue makers in the whole world, 3 are govt. controlled Chinese companies. You really need to study stuff before you utter it. :D
 
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ISLAMABAD: Pakistan said on Sunday it welcomed a statement by Tethyan Copper expressing willingness for a negotiated settlement after a World Bank tribunal ordered the government to pay $5.8 billion in damages in a dispute over the Reko Diq copper mine.

The statement from the attorney general’s office came after a World Bank arbitration court ruled in favour of Tethyan Copper, a joint venture between Chile’s Antofagasta Plc and Canada’s Barrick Gold, in a dispute over a lease to the mine, located in a remote area of southwestern Pakistan.

The government, which earlier this month signed a $6 billion bailout agreement with the International Monetary Fund, said it had taken note of a statement from Tethyan Copper’s chairman expressing willingness to seek a negotiated settlement.

“The Government of Pakistan welcomes this approach to work towards a mutually beneficial solution that works for both sides,” it said.

However, it said that together with the provincial government of Balochistan, it was still studying the decision by the World Bank’s International Centre for Settlement of Investment Disputes (ICSID). The ICSID ruled against Pakistan in 2017, but had not determined damages owed to Tethyan until now.

Tethyan Copper discovered vast mineral wealth more than a decade ago in Reko Diq, at the foot of an extinct volcano near Pakistan’s frontier with Iran and Afghanistan.



Copyright Reuters, 2019
TC know its will get Jack

I'd say hand over mines to Tethyan if they agree. Balochistan government would never be able to pay that amount ever.
If there is vast wealth then TC should work.with federal government to extract the wealth and ensure local projects like hospitals schools roads and jobs
 
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So??

What does the global economy have to do with Privatization or Govt. controlled companies??

Of the top 5 revenue makers in the whole world, 3 are govt. controlled Chinese companies. You really need to study stuff before you utter it. :D
You really need to have enough money and expertise to exploit your own natural resources otherwise your resources stay in the ground or you let a foreign company come in and do it for you. The Chinese have both, you have neither. That is why it is American and Italian companies that have been looking for oil in Pakistan's coastal waters and not Pakistani ones.
You need to shed your xenophobia and work with the rest of the world for your own good and stop seeing a Zionist conspiracy in everything.
 
.
You fellows are so simplistic! It is a classic good cop, bad cop technique by the jewish bloody sucking leeches who want to steal this wealth. What is the potential of Reko? Some estimates about $500 Billion of Gold.

Think about the barbarism here - these mines belong to the People of Pakistan. And yet they cannot extract mineral wealth from these mines and cannot even decide who has the legal right to do this just because a FOREIGN Entity sitting thousands of miles away decides the fate of a mine located in a so called sovereign country!

Anyone sitting in the corridors of Power in Pakistan including the Military should be shamed of themselves for allowing such horrendous act to take place.

And then reconfirms my personal belief that this country is in total control of a vicious mafia who steals the wealth of this country whenever it likes, and keeps the people of this country slaves.


You cant cant blame foreign vultures for being vultures.

You should blame local piggs for being corrupt.


The corrupt rulers signed away the contract and ran off to fill their bank account in England. ... But the brain dead locals still worship these local piggs.

Want justice???... Kill the swines.
 
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You really need to have enough money and expertise to exploit your own natural resources otherwise your resources stay in the ground or you let a foreign company come in and do it for you. The Chinese have both, you have neither. That is why it is American and Italian companies that have been looking for oil in Pakistan's coastal waters and not Pakistani ones.
You need to shed your xenophobia and work with the rest of the world for your own good and stop seeing a Zionist conspiracy in everything.

Right, I'm a conspiracy theorist.....I guess so was the guy that called out Nixon but later they found out he was telling the truth.

Do you that's the history of the word "conspiracy theroy/ist"??? Nixon made it up to cover his tracks until he was found guilty of corruption and impeached.

And this isn't xenophobia, you haven't seen xenophobia :lol:

Xenophobia would be to lock up all the Palestinians like Israel does. What I'm displaying is a healthy dose of caution while you want to sell our precious resources to the highest bidder.

If you want the Chinese to mine and then take away your resources then go ahead. You think they'll be any different from the rest?

Dream on kiddo. :lol:
 
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Why is the company still trying to negotiate ? Looks like they want to have sole mining rights and are convinced that the payout from such will have richer dividends.
 
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I'm sure we all feel the same way you do. However, the problem is the Pakistan is simply too weak to do anything about it. If this was China, you can bet that they would have been able to arm-twist this company, the international court they used, and whatever international organization necessary to get them an outcome that favors their national interest.

The only way Pakistan can avoid this company is to leave the WTO (World Trade Organization) and due what many argue for, full Islamic state using currency based on gold-standard. You can also tell the IMF to go screw themselves and not pay back their loans, or at least give back the principal without interest. The problem is that foreign investors, aside from GCC & maybe China, will probably avoid investing in Pakistan due to lack of international arbitration like this one. Pakistan, unfortunately, is dependent on foreign investors like these for almost everything.

(1) it is an importing nation
(2) it can hardly produce anything aside from agriculture & textiles
(3) it has no engineering & industrial base to sustain the country let alone power its industrialization (1960's were the opposite).
(4) it does not even have the technology to mine its own natural resources
(5) it does not even have the technology to build or upgrade its railways!

in order to avoid this settlement, Pakistan needs to be able to stand on its feet. It must be able to produce everything indigenous and locally. Iran is an example to follow. They were & are sanctioned to the teeth, yet they still produce electronics, oil & gas extraction plants, ships, cars, rail, pharmaceuticals, chemicals, etc. They have come a long way in becoming self-sufficient. Just look at they shot down the drone in the Gulf with their own SAM? On the other hand, Pakistan is begging China to build or upgrade its railways/highways/ports. These are all basic things that country like Pakistan should be able to do. Iran has connected its country with rail & roads by itself, yet Pakistan has pay billions to China just to build rail!

Pakistan doesn't have the education system or STEM "science technology engineering mathematics" base to achieve similar level of self-sufficiency. The only real effort made to improve education & STEM base was during Musharraf's time under leadership of Atta-ur-Rehman. The moment democracy kicked in with Zardari, HEC lost funding, the rest is history.

Now Atta-ur-Rehman is working under PTI to revive focus on education, the problem is that Imran Khan is too weak politically to do anything. He doesn't have majority and is blackmailed by parties that won as little as one seat. There is the issue of having no money. Now there is the issue of no one wanting to pay taxes. Here in the US, K-12 public school education is free due to the revenue gained from taxpayers. As long as Pakistani's do not pay taxes, you cannot afford to fund education on a massive scale. You can't even afford to build roads, rail, dams, ports, etc. That's why Pakistan will continue to hold the begging bowl as long as people continue to protest against taxes.

Absolutely correct. We do not even have the luxury of becoming a North Korea at this time because of 220m people. Firstly people need to get out of imagining that digging for gold means a worker with a shovel goes and digs it up and puts it in a cart. The sheer size of the project and the amount of work that goes into it does not fit the Pakistani mentality of a hard days work when an industrialist can make the same amount of money importing a container from China or selling files in DHA.

 
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Right, I'm a conspiracy theorist.....I guess so was the guy that called out Nixon but later they found out he was telling the truth.

Do you that's the history of the word "conspiracy theroy/ist"??? Nixon made it up to cover his tracks until he was found guilty of corruption and impeached.

And this isn't xenophobia, you haven't seen xenophobia :lol:

Xenophobia would be to lock up all the Palestinians like Israel does. What I'm displaying is a healthy dose of caution while you want to sell our precious resources to the highest bidder.

If you want the Chinese to mine and then take away your resources then go ahead. You think they'll be any different from the rest?

Dream on kiddo. :lol:
Right, I'm a conspiracy theorist.....I guess so was the guy that called out Nixon but later they found out he was telling the truth.

Do you that's the history of the word "conspiracy theroy/ist"??? Nixon made it up to cover his tracks until he was found guilty of corruption and impeached.

And this isn't xenophobia, you haven't seen xenophobia :lol:

Xenophobia would be to lock up all the Palestinians like Israel does. What I'm displaying is a healthy dose of caution while you want to sell our precious resources to the highest bidder.

If you want the Chinese to mine and then take away your resources then go ahead. You think they'll be any different from the rest?

Dream on kiddo. :lol:
They aren't going to extract it for free if that's what you are hoping for.
I'd rather give someone a share of it to dig it out and use the money for development rather than leave it in the ground where it's useless.
 
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