What's new

Barrick Gold is coming back to Reko Diq

Imad.Khan

SENIOR MEMBER
Sep 24, 2015
6,917
9
10,351
Country
Pakistan
Location
Australia
Last edited:

Thinker3

FULL MEMBER
Jan 26, 2022
487
0
831
Country
Pakistan
Location
Pakistan
I am sure the reserves are more than 500 billion$, why should we give any of that to a foreign company, if they want to mine their share should not be more than 5%. People should know that they coerced us into accepting this deal, these two companies did not even invested few million dollors(they claim few hundred million) and the West fined us 11 billion for that few million. According to Pakistan the project was awarded to them for exploration but instead the wanted to mine the reserve against the agreement and instead of fining them for going against the agreement Western countries and their courts fined us 11 billion dollar. They fined us 11 billion for few million invested in future they will fine us 100s of billion for the 10 billion they are investing. This is our exploitation and a robbery.
Those of you saying we can not extract it, we can, when there is will there is a way. Is extracting gold .ore difficult or some of the other things we have already done like for example building nukes, we can not extract gold which can change the destiny of Pakistan?, we should have self confidence.
Don't give them 11 billion$, give them what they have already invested and if they want they can work on 5% share, otherwise they can steal our hotel and stop our flights, we should make a stand, and not let west exploit and blackmail us.
 

Aasimkhan

SENIOR MEMBER
Sep 29, 2016
2,258
0
2,065
Country
Pakistan
Location
Pakistan
I am sure the reserves are more than 500 billion$, why should we give any of that to a foreign company, if they want to mine their share should not be more than 5%. People should know that they coerced us into accepting this deal, these two companies did not even invested few million dollors(they claim few hundred million) and the West fined us 11 billion for that few million. According to Pakistan the project was awarded to them for exploration but instead the wanted to mine the reserve against the agreement and instead of fining them for going against the agreement Western countries and their courts fined us 11 billion dollar. They fined us 11 billion for few million invested in future they will fine us 100s of billion for the 10 billion they are investing. This is our exploitation and a robbery.
Those of you saying we can not extract it, we can, when there is will there is a way. Is extracting gold .ore difficult or some of the other things we have already done like for example building nukes, we can not extract gold which can change the destiny of Pakistan?, we should have self confidence.
Don't give them 11 billion$, give them what they have already invested and if they want they can work on 5% share, otherwise they can steal our hotel and stop our flights, we should make a stand, and not let west exploit and blackmail us.
exactly, this is what i wanted to hear from some member, calculate the price of hotel and flight and contact China for extraction of gold at 5%
 

Imad.Khan

SENIOR MEMBER
Sep 24, 2015
6,917
9
10,351
Country
Pakistan
Location
Australia
Does it hold good for foregn companies ?

Yes, the royalties are fixed by the mining acts of each state, and the federal govt tax of 30% is across the board for any company/business/corporation, irrespective of their country of origin.

As long as you open an office in Australia, you can apply for a tenancy for a mine, you can also list the company in Australian stock exchange.
 

Imad.Khan

SENIOR MEMBER
Sep 24, 2015
6,917
9
10,351
Country
Pakistan
Location
Australia
exactly, this is what i wanted to hear from some member, calculate the price of hotel and flight and contact China for extraction of gold at 5%

Sorry mate, no one will do it for 5%, not even Chinese. Trust me i have alot of interest in the mining field, not in the technical aspects of it, but as an investor.

50% for Barrick Gold is what? Raw Material/Profit(Currency)/Refined Copper or Gold? Any one knows?

I don't know the details but i would also like to know. In Australia there are many companies that do both the mining and refining, but there are also companies that do just mining and export the raw ore.

Obviously the amount you get from 50% of the refined product would be alot higher than the 50% or raw product.
 
Last edited:

Aasimkhan

SENIOR MEMBER
Sep 29, 2016
2,258
0
2,065
Country
Pakistan
Location
Pakistan
In Australia, the royalties are between 3.5% to 5% depending on the mineral. On top of that they are charged 30% taxes.



Edit: the Australian govt also charges tax from the income of the employees of the mines as well so the bottom line figures would be alot higher.
3.5% is when the exploration is also involved, in RekoDiq you only have to purify, exploration is already done so why give away lions share to foreigners where they have not done anything at all
 

Imad.Khan

SENIOR MEMBER
Sep 24, 2015
6,917
9
10,351
Country
Pakistan
Location
Australia
3.5% is when the exploration is also involved, in RekoDiq you only have to purify, exploration is already done so why give away lions share to foreigners where they have not done anything at all

The royalties are based on the product extraction irrespective of who did the exploration.

Another interesting fact, there are actually companies whos sole purpose is to purchase tenancies, explore for products and once they are discovered they sell the tenancy to another company for a profit.
 

WinterFangs

FULL MEMBER
Oct 22, 2019
994
0
2,737
Country
United Kingdom
Location
United Kingdom
What I am most happy of is the neglected balotchistan has a bright future. Balochistan is very very rich in diff minerals and resources, most of which is undiscovered. dont be surprised if Balochistan is the richest province by 2050. A prosperous balochistan is a prosperous Pakistan.
 

Imad.Khan

SENIOR MEMBER
Sep 24, 2015
6,917
9
10,351
Country
Pakistan
Location
Australia
3.5% is when the exploration is also involved, in RekoDiq you only have to purify, exploration is already done so why give away lions share to foreigners where they have not done anything at all

Sorry i just realised that your main disagreement is that its a foreign company, if thats the case then i am sure you must be aware that Pakistan doesn't have the capital or the skilled staff or the required tools, like the diamond drillers, dump trucks etc etc to start a mine itself, or it would have been done by now.
 

Imad.Khan

SENIOR MEMBER
Sep 24, 2015
6,917
9
10,351
Country
Pakistan
Location
Australia
Before i head off to bed, i would like to inform all my Pakistanis, that there is a way to take advantage of this for yourself as well. Invest in Barrick gold stock, that way you will also get a slice of the profits from rekodiq.

They are listed in the Toronto stock exchange and also NYSE. Unfortunately they are not listed on the Australian exchange so i am gona miss out.
 
Last edited:

hamilcar of carthage

FULL MEMBER
Nov 21, 2018
308
-10
153
Country
Reunion
Location
Reunion
cost of mining gold = $1048 per oz
Gold reserve in Reko Diq = 41 million ~ 40 million
Total mining cost = 45 Billion give or take
Employees = 8000 * $ 800 average = 6.4 million * 20 = 128 million
Investment of 10 billion
Gold worth refined 2000 * 41000000 = 82 Billion
82 - 55 = 27 billion / 2 = 13 billion goes to them.
The copper would have been extracted but not considering that.
24 million ton of copper = $ 6000 * 24 = 144 billion / 2 = 72 billion dollars - some refinement cost of lets say 10 billion = 62 billion for Pakistan. The total worth seems less then 500 billion. more like 250 to 300 billion
 

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)


Top Bottom