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Reko Diq-like treasure found in Chiniot
Swiss, Canadian laboratories confirm massive presence of high quality iron ore, copper; Punjab govt efforts produce results
ISLAMABAD: The Punjab government has successfully explored and documented a treasure trove of iron ore and copper in Chiniot comparable, if not greater, than Reko Diq, worth hundreds of billions of dollars.
The unimaginable resource was found through the technical services of Chinese, German, Swiss and Canadian mining experts.“The Punjab government has secured 500 million tons of shipment grade iron ore in Chiniot-Rajoa. Initial results of the scientific geological studies have also shown substantial copper reserves,” a senior official told The News, attributing the success to Chief Minister Shahbaz Sharif’s hectic efforts.
He said that the Swiss and Canadian laboratories established 65% iron content in the ore.A review of official documents — a Lahore High Court (LHC) decision — reveals that the iron and copper reserves offer an epic story of greed, maladministration and incompetence on the one hand and hard work, honesty, resolve and single-minded effort on the other hand.
The Punjab Mineral Development Company, created by the chief minister under the chairmanship of Dr Samar Mubrakmand with a professional board of directors, was entrusted this task in 2014 after unsuccessfully struggling with different initiatives.
Leading entrepreneurial success stories namely Nooruddin Firasta (Rupali Polyester/Soneri Bank) and Anjum Nisar (ATS Group) were included in the board. The deans of LUMS Business School, metallurgy and mining departments, University of Engineering and Technology and head of geology department Punjab University were included in the new board.
The official said that this made the board an industry-academia-public sector nexus. The project strategy was revised by mitigating the risks of foreign companies without compromising national interests.
Request for pre qualification (PQD) was launched on October 28, 2013 through Financial Times (UK), which led to an expression of interest by 33 reputed companies in the shape of 12 international consortia.
Ultimately, the Chinese consortium of Metallurgical Cooperation of China (MCC) was awarded this contract through a competitive bidding process where the German consortia were the second and the third best bidders. The MCC is a Fortune 500 company, listed in the international stock market. Its annual turnover is more than $34 billion.
The official said that the MCC has made more than 90% steel of China and is famous all over the world for metallic mineral resource estimation and its metallurgical development. It has more than 65 subsidiaries.
A German resident consultant was selected through international competitive bidding to supervise the work of this nationally-significant project. This 18-month-long project commenced its work and after nine months of dedicated efforts, it has been sharing its commercially important findings though a prestigious ceremony is planned where Prime Minister Nawaz Sharif would be the chief guest.
Eight boreholes have been completed and results of samples tested in Swiss and Canadian laboratories have confirmed the massive presence of high quality iron ore and copper. The magnitude of the deposits and quality of underlying assets have the potential to transform Pakistan’s agrarian economy into a vibrant manufacturing base.
The Chinese company was given a consultancy contract to do an exploratory study and evaluation of this national asset eight months ago.
After failing to make headway in having this huge reserve assessed as per the internationally-recognised standards, the chief minister sacked the whole team and brought in Dr Mubarakmand as the head of the board of directors of Punjab mineral company and appointed Dr Arshad as secretary mines to steer and supervise this project of immense national importance.
The official said that from 2008 to 2014, Shahbaz Sharif struggled day in and day out to make this project a success; the best technical resource from Germany, Switzerland, Canada and China were engaged to explore and document this resource according to internationally-recognised standards.
An interesting aspect of this project is that in 2007, the then government had allotted this iron and copper reserve to a private Pakistani company without competitive bidding in a non-transparent manner. No advertisement or competition was held.
Soon after his election, Shahbaz Sharif reviewed the project in 2008 and sensing wrongdoings ordered that the non-transparent contract awarded in total violation of rules and law be cancelled. However, the sponsors of the beneficiary company brought in powerful players to convince the chief minister not to cancel the project. So much so that many senior leaders of the ruling party also approached Shahbaz Sharif to change his mind but failed to achieve the desired result.
The contract awarded illegally was finally terminated. However, the aggrieved company took the matter to the LHC. Justice Mansoor Ali Shah upheld the Punjab government’s action, and declared the agreement signed by the previous administration as illegal, non-transparent and theft of national resource. The judge directed not only the cancellation of the contract, he also declared the company a fraud and referred the matter to the National Accountability Bureau (NAB).
The LHC held the petition filed by the Earth Recourses (Pvt) Limited (ERPL) non-maintainable and ruled that stark violations in the disposal and transfer to public property and heartless breach of public trust by the public functionaries (public trustees) cannot be overlooked.
Discussing the role, scope and power of Punjab Mineral Development Corporation (PUNJMIN), the judge held that PUNJMIN can set up companies but cannot take a private equity partner. The ERPL has not been established by the PUNJMIN and is therefore not a company envisaged under the law. There is no provision in the relevant law, which permits PUNJMIN to enter into a joint venture with any private party.
Under the Rule 60 of the rules, the licencing authority can approve assignment of right under a lease or licence held by an existing lessee but at the same time Rule 76 of competitive bidding or public auction has to be followed.
In the present case, the public property is the minerals, which are surface and sub-surface natural deposits of ore and metals. This natural resource belongs to the people of Pakistan and stands protected under the Public Trust Doctrine. No private party can solicit its way into the corridors of these public functionaries unless they have passed through a transparent, open and clear public competitive selection process of public advertisement, public tendering, public auction and competitive bidding. Disposal of public property cannot be allowed without public participatory process, unless otherwise provided under a special law, the LHC said in its decision.
It added that no one, including the chief minister or the chief secretary, has the right or the authority to transfer, lease or licence out even an inch of public property without public tendering unless the law permits otherwise or there are exceptional reasons duly recorded in writing for holding a negotiated sale.
source:Reko Diq-like treasure found in Chiniot - thenews.com.pk
Also on jang:
@Horus @Zarvan @syedali73
PM Nawaz visits mineral deposits project in Chiniot
PM Nawaz visits mineral deposits project in Chiniot. Pakistan Prime Minister Nawaz Sharif and Chief Minister Shehbaz Sharif have visited the mineral deposits project discovered at Rajua in Chiniot.
On this occasion PM also inspected the ongoing project carried out by Pakistan and China’s joint efforts. Doctor Samar Mubarak said while giving the briefing that immense reserve of iron and copper are persist in Rajua.
Doctor Samar further told that proper work on the project was started at 2 July 2014, while the samples getting from ground have been tested from the world’s best laboratories.
PM Nawaz visits mineral deposits project in Chiniot | PaperPK News about Pakistan
Swiss, Canadian laboratories confirm massive presence of high quality iron ore, copper; Punjab govt efforts produce results
ISLAMABAD: The Punjab government has successfully explored and documented a treasure trove of iron ore and copper in Chiniot comparable, if not greater, than Reko Diq, worth hundreds of billions of dollars.
The unimaginable resource was found through the technical services of Chinese, German, Swiss and Canadian mining experts.“The Punjab government has secured 500 million tons of shipment grade iron ore in Chiniot-Rajoa. Initial results of the scientific geological studies have also shown substantial copper reserves,” a senior official told The News, attributing the success to Chief Minister Shahbaz Sharif’s hectic efforts.
He said that the Swiss and Canadian laboratories established 65% iron content in the ore.A review of official documents — a Lahore High Court (LHC) decision — reveals that the iron and copper reserves offer an epic story of greed, maladministration and incompetence on the one hand and hard work, honesty, resolve and single-minded effort on the other hand.
The Punjab Mineral Development Company, created by the chief minister under the chairmanship of Dr Samar Mubrakmand with a professional board of directors, was entrusted this task in 2014 after unsuccessfully struggling with different initiatives.
Leading entrepreneurial success stories namely Nooruddin Firasta (Rupali Polyester/Soneri Bank) and Anjum Nisar (ATS Group) were included in the board. The deans of LUMS Business School, metallurgy and mining departments, University of Engineering and Technology and head of geology department Punjab University were included in the new board.
The official said that this made the board an industry-academia-public sector nexus. The project strategy was revised by mitigating the risks of foreign companies without compromising national interests.
Request for pre qualification (PQD) was launched on October 28, 2013 through Financial Times (UK), which led to an expression of interest by 33 reputed companies in the shape of 12 international consortia.
Ultimately, the Chinese consortium of Metallurgical Cooperation of China (MCC) was awarded this contract through a competitive bidding process where the German consortia were the second and the third best bidders. The MCC is a Fortune 500 company, listed in the international stock market. Its annual turnover is more than $34 billion.
The official said that the MCC has made more than 90% steel of China and is famous all over the world for metallic mineral resource estimation and its metallurgical development. It has more than 65 subsidiaries.
A German resident consultant was selected through international competitive bidding to supervise the work of this nationally-significant project. This 18-month-long project commenced its work and after nine months of dedicated efforts, it has been sharing its commercially important findings though a prestigious ceremony is planned where Prime Minister Nawaz Sharif would be the chief guest.
Eight boreholes have been completed and results of samples tested in Swiss and Canadian laboratories have confirmed the massive presence of high quality iron ore and copper. The magnitude of the deposits and quality of underlying assets have the potential to transform Pakistan’s agrarian economy into a vibrant manufacturing base.
The Chinese company was given a consultancy contract to do an exploratory study and evaluation of this national asset eight months ago.
After failing to make headway in having this huge reserve assessed as per the internationally-recognised standards, the chief minister sacked the whole team and brought in Dr Mubarakmand as the head of the board of directors of Punjab mineral company and appointed Dr Arshad as secretary mines to steer and supervise this project of immense national importance.
The official said that from 2008 to 2014, Shahbaz Sharif struggled day in and day out to make this project a success; the best technical resource from Germany, Switzerland, Canada and China were engaged to explore and document this resource according to internationally-recognised standards.
An interesting aspect of this project is that in 2007, the then government had allotted this iron and copper reserve to a private Pakistani company without competitive bidding in a non-transparent manner. No advertisement or competition was held.
Soon after his election, Shahbaz Sharif reviewed the project in 2008 and sensing wrongdoings ordered that the non-transparent contract awarded in total violation of rules and law be cancelled. However, the sponsors of the beneficiary company brought in powerful players to convince the chief minister not to cancel the project. So much so that many senior leaders of the ruling party also approached Shahbaz Sharif to change his mind but failed to achieve the desired result.
The contract awarded illegally was finally terminated. However, the aggrieved company took the matter to the LHC. Justice Mansoor Ali Shah upheld the Punjab government’s action, and declared the agreement signed by the previous administration as illegal, non-transparent and theft of national resource. The judge directed not only the cancellation of the contract, he also declared the company a fraud and referred the matter to the National Accountability Bureau (NAB).
The LHC held the petition filed by the Earth Recourses (Pvt) Limited (ERPL) non-maintainable and ruled that stark violations in the disposal and transfer to public property and heartless breach of public trust by the public functionaries (public trustees) cannot be overlooked.
Discussing the role, scope and power of Punjab Mineral Development Corporation (PUNJMIN), the judge held that PUNJMIN can set up companies but cannot take a private equity partner. The ERPL has not been established by the PUNJMIN and is therefore not a company envisaged under the law. There is no provision in the relevant law, which permits PUNJMIN to enter into a joint venture with any private party.
Under the Rule 60 of the rules, the licencing authority can approve assignment of right under a lease or licence held by an existing lessee but at the same time Rule 76 of competitive bidding or public auction has to be followed.
In the present case, the public property is the minerals, which are surface and sub-surface natural deposits of ore and metals. This natural resource belongs to the people of Pakistan and stands protected under the Public Trust Doctrine. No private party can solicit its way into the corridors of these public functionaries unless they have passed through a transparent, open and clear public competitive selection process of public advertisement, public tendering, public auction and competitive bidding. Disposal of public property cannot be allowed without public participatory process, unless otherwise provided under a special law, the LHC said in its decision.
It added that no one, including the chief minister or the chief secretary, has the right or the authority to transfer, lease or licence out even an inch of public property without public tendering unless the law permits otherwise or there are exceptional reasons duly recorded in writing for holding a negotiated sale.
source:Reko Diq-like treasure found in Chiniot - thenews.com.pk
Also on jang:
@Horus @Zarvan @syedali73
PM Nawaz visits mineral deposits project in Chiniot
PM Nawaz visits mineral deposits project in Chiniot. Pakistan Prime Minister Nawaz Sharif and Chief Minister Shehbaz Sharif have visited the mineral deposits project discovered at Rajua in Chiniot.
On this occasion PM also inspected the ongoing project carried out by Pakistan and China’s joint efforts. Doctor Samar Mubarak said while giving the briefing that immense reserve of iron and copper are persist in Rajua.
Doctor Samar further told that proper work on the project was started at 2 July 2014, while the samples getting from ground have been tested from the world’s best laboratories.
PM Nawaz visits mineral deposits project in Chiniot | PaperPK News about Pakistan
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