RekoDiq Mining Project | News, Updates & Discussions.

[A.Rafay]

QUETTA:
Renowned scientist Dr Samar Mubarakmand said during a briefing to Balochistan Governor Nawab Zulfiqar Ali Magsi on Wednesday that the provincial government has won the Reko Diq case in the International Court of Justice (ICJ) and will now implement the project.
“Work will first begin on 2.2 billion tonnes of ore and gold reservoirs worth $400 billion,” he said.
According to Dr Mubarakmand, the Geological Survey of Pakistan spotted the Reko Diq reservoirs in 1978 and an agreement was reached with Australian company Tethyan in 1993. Now, however, this agreement has come to an end and Balochistan has also won the case in the ICJ.
He further said that, under this project, as many as 15,000 tonnes of raw material will be excavated annually worth $411 million and government of Balochistan is expected to earn an annual profit of $321 million.
The provincial government allocated Rs1,400 million for this project whereas only the water supply will take Rs1,980 million, being completed in a span of a year and a half.
Furthermore, Dr Mubarakmand said the local people of Balochistan will be recruited for the project’s non-technical positions.
Balochistan Governor Magsi stressed upon a timely execution of the project so that the masses can benefit as soon as possible and directed both the chief secretary and the finance secretary to ensure an efficient provision of funds. Additionally, he, too, emphasised the need for the local people to be given more jobs, and for project offices to be established in Quetta instead of Islamabad.
Furthermore, Magsi directed the authorities concerned to guarantee foolproof security arrangements.

Ready, set, start project!: Reko Diq to yield hefty profit for Balochistan – The Express Tribune

 

[Sinnerman108]

This is excellent news !

More important that Imran Khan, more important than Jf-17, more imporant than elections.

We the Pakistanis are going to synthesize and use our own resources and loose nothing to oursiders.

This is the way to go !

 

[FaujHistorian]

QUETTA:
Renowned scientist Dr Samar Mubarakmand said during a briefing to Balochistan Governor Nawab Zulfiqar Ali Magsi on Wednesday that the provincial government has won the Reko Diq case in the International Court of Justice (ICJ) and will now implement the project.
“Work will first begin on 2.2 billion tonnes of ore and gold reservoirs worth $400 billion,” he said.
According to Dr Mubarakmand, the Geological Survey of Pakistan spotted the Reko Diq reservoirs in 1978 and an agreement was reached with Australian company Tethyan in 1993. Now, however, this agreement has come to an end and Balochistan has also won the case in the ICJ.
He further said that, under this project, as many as 15,000 tonnes of raw material will be excavated annually worth $411 million and government of Balochistan is expected to earn an annual profit of $321 million.
The provincial government allocated Rs1,400 million for this project whereas only the water supply will take Rs1,980 million, being completed in a span of a year and a half.
Furthermore, Dr Mubarakmand said the local people of Balochistan will be recruited for the project’s non-technical positions.
Balochistan Governor Magsi stressed upon a timely execution of the project so that the masses can benefit as soon as possible and directed both the chief secretary and the finance secretary to ensure an efficient provision of funds. Additionally, he, too, emphasised the need for the local people to be given more jobs, and for project offices to be established in Quetta instead of Islamabad.
Furthermore, Magsi directed the authorities concerned to guarantee foolproof security arrangements.

Ready, set, start project!: Reko Diq to yield hefty profit for Balochistan – The Express Tribune

Hummm,


Who will provide $millions needed to start the project.

Remember we tried Chinese, Australian and even a South American consortium already.

The reason was the same, We don't have money to start such a HUGE project.

I respect Dr. Samar, But he is a scientist and not an owner of a proven mining company.


peace

 

[BATMAN]

^^ What is the point?

What you need to know about gold mining...?

We only need intial capital which local banks can provide very easily, rest we use machines and educated people.

 

[Safriz]

This is excellent news !

More important that Imran Khan, more important than Jf-17, more imporant than elections.

We the Pakistanis are going to synthesize and use our own resources and loose nothing to oursiders.

This is the way to go !

will lose to greedy sardars of Blaochistan....thats even worse..

 

[Edevelop]

Thats great news but we need to eliminate corrupts within our country first before getting into mining.

 

[Safriz]

Most importantly we need to eradicate this mentality among baloch Sardars the the whole province is their "Baap kii jageer" .

 

[Safriz]

I wonder how they will build the infra structure needed in this remote place..
It looks like the surface of the moon..

Reko Diq, Chagai District, Balochistan, Pakistan - Google Maps

 

[FaujHistorian]

^^ What is the point?

What you need to know about gold mining...?

We only need intial capital which local banks can provide very easily, rest we use machines and educated people.

I wish that is the case.

In fact I'd jumping up with joy if your suggestions had been implemented by anyone since 1978.

Daal main kuch kala hai (sona hota to nazar aa jata ub tak).

Somethings fishy here. We haven't gotten an ounce of gold even when this place is well discovered since 1978.


Just remember we are on the same side on this issue.


peace

 

[Icewolf]

Wow so much gold

 

[Safriz]

Reko Diq Copper Mine, Chagai, Balochistan, Pakistan - Google Maps

Wow so much gold

Not a stone has been turned yet

 

[Luftwaffe]

Not ready set start project yet!

There is no infrastructure in place, no security/protection, no proper roads or means to transport minerals.
Alone security would need helicopters as well to over sea day-night due to the terrorism in Baluchistan. Than there is no railroad in that Area.

This is an ambitious project needs a big investment from local banks or reliable partner like China-Turkey. Such a project would need 3 times the investment on Gawadar. So it would require $450-$600M.

A weclome news but Pakistan needs heavy machinery-equipment that were never available for such a large scale Project that is why in the first place we had deals to contact foreign companies. So Pakistan still needs machinery-equipment for all levels that needs money you'll either need to approach China preferably or Turkey. I don't see this project in its true form to kick start in next 2 Years. Needs money and will.

 

[Kompromat]

@Luftwaffe Roads might not be the biggest issue as this place is not too far away from the RCD highway. The biggest most crippling problem might be access to water. If Anyone as data on the water table, in this region if so please post.

 

[FaujHistorian]

Not ready set start project yet!

There is no infrastructure in place, no security/protection, no proper roads or means to transport minerals.
Alone security would need helicopters as well to over sea day-night due to the terrorism in Baluchistan. Than there is no railroad in that Area.

This is an ambitious project needs a big investment from local banks or reliable partner like China-Turkey. Such a project would need 3 times the investment on Gawadar. So it would require $450-$600M.

A weclome news but Pakistan needs heavy machinery-equipment that were never available for such a large scale Project that is why in the first place we had deals to contact foreign companies. So Pakistan still needs machinery-equipment for all levels that needs money you'll either need to approach China preferably or Turkey. I don't see this project in its true form to kick start in next 2 Years. Needs money and will.

Dear poster you have hit the nail on the head. We need millions and perhaps billions to get the stuff out of mines and process it and sell it and then make money.

That money will not come from local banks I kid you not.

The money will not come from Turkish or Chinese firms either.

Because one Turkish firm had already gotten its power plants ships confiscated thanks to CJ.

And Chinese are crying big tears of how we have been treating them on Sandik project.



Us Pakistanis in general and Balochistanis in particular do not know how to conduct international business.

Here is a snippet.



Several foreign companies have refused to make investment in Pakistan after Tethyan Copper Company (TCC) went to international court.

TCC, which is represented by Antofagasta of Chile and Barrick Gold of Canada, holds 75% share in the project while Balochistan has a 25% stake.

TCC claims it has invested over $500 million in exploration, scoping and feasibility studies on the project. Total investment is projected to be $5 billion over a period of five years.




Reko Diq case: Centre refuses to pay Rs450m fee for legal experts – The Express Tribune



International tribunal has only allowed Dr. Samar to dig in area H/4, but it has practically banned us from digging into any other area of Reko Diq (the whole of license EL-5).

Here is the summary:


The Tribunal decided that ‘Respondent shall immediately inform the Tribunal and Claimant of any change of its present intention, to implement the H4 Work Plan, not to expand its mining activities to H14 and/or H15 or to any other deposit within License EL-5 and not to give any rights in this regard to any third party’. “Respondent shall further inform the Tribunal and Claimant, on a regular basis, about its specific plans and activities with respect to deposit H4”.

TCC loses Reko Diq case in international court - thenews.com.pk

We are like Sheikh Chilli thinking about $400 billion worth of gold.

Our kartoot do not deserve to be rewarded with gold or coal or even dirt.

Even if we get the gold out, TCC will go to international court and recover their $500 million+ interest. So things are pretty sad dare I say.

Sorry I didn't mean to throw water on the dance party of my fellow Pakistanis. But someone has to give a dose of reality. Unfortunately I happened to be that "bad guy". Sorry.

peace

 

[BATMAN]

Water has to be shipped for processing of ore, BUT gold bars can be made at Gawadar too!!!!!!!!!!

We need to grind the rocks, make a slurry and pump it to the to the Gawadar port, where Chinese ships will be ready to take receive the Gold slurry to China, i doubt that Chinese will make gold locally or give jobs to Pakistanis.
Chinese always invest when order is awarded to Chinese company, labor and equipment is agreed Chinese (patriotism).

Zardari and CM/Governor and sardar of Baluchistan will get there due share.

And who asked about infrastructure?

All you need is a landing strip, bring employees in and out on rotation basis, put up prefabricated rooms and mess for their temporary stay.

Put up small infrastructure for crushing and grinding, and pump the slurry to port or receiving terminal at secured location.

You need maximum 50MW power plant to have grinding through put of 1000Tons/12hrs.

Ask me again when you need to more!