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Barrick Gold is coming back to Reko Diq

Jul 31, 2015
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Avg Annual production (phase1)
Copper 650mn lbs or 295k tons. At current price $3 billion
Gold 300k oz. $600m

Avg Annual production (phase 2)
Copper 850mn lbs $385k tons. At current price $4b
Gold 475k oz. $1b

In 5-6 years price of gold and copper will only go up IMO when production start.
 

Danish Moazzam

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One thing that people who are not happy with this deal keep ignoring is that currently it is all estimates.

Any business is based on risk evaluation and testing. Please note that here the risk exposure to Barrick is 100%. As they are going to be investing and setting up everything without having concrete revenue stream till the mine starts poducing the ore.

Right now it is what it is Estimates. Only when the actual block gets mined will we know what the value of the feild is. The study tells it is promising. But if you look at the whole block (500x4) that gives you a potential 2Trillion reserve.

Barrick will be able to have 250Billion of the whole and that too by taking the first risk. setting up everything.

So in entirety you are paying 12.5% (RQ In entirety) with 0% risk. Now in this perspective it is not a bad deal and with expertise I pray that we will be able to explore eve other blocks wiht more reserves.
 
Jul 31, 2015
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25% profits direct transfer to Balochistan govt without any investment unlike last time. 5% royalties which will be payed in advance. $1b development funding by Barrick gold. Starting 2028 Balochistan govt start to get $1b which is like half of current Balochistan budget.

8000 well paying job. Indirect jobs will be even more.

If this goes through and more investment come then Balochistan own revenue will be more then federal NFC transfer. As a state govt it will be richest province in Pakistan on per person basis. Now how that will translate in to uplifting average baloch is yet to be seen.
 

Maula Jatt

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25% profits direct transfer to Balochistan govt without any investment unlike last time. 5% royalties which will be payed in advance. $1b development funding by Barrick gold. Starting 2028 Balochistan govt start to get $1b which is like half of current Balochistan budget.

8000 well paying job. Indirect jobs will be even more.

If this goes through and more investment come then Balochistan own revenue will be more then federal NFC transfer. As a state govt it will be richest province in Pakistan on per person basis. Now how that will translate in to uplifting average baloch is yet to be seen.
If it doesn't than fault lies with people of Balochistan not anyone else
They're responsible for leadership they choose
 

Crystal-Clear

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Nov 28, 2017
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Bro please excuse my ignorance, please justify and quantify and qualify the 250 billion USD we have decided to give to Barrick ? What is the justification for this amount ?
Think of it as a price for knowledge and technology .
Reko dik is not the only mine PAKISTAN have but the knowledge gained from there will surely help our future mining projects.
Either we invest in research wait 20 to 30 years. Pay a huge fine to barrick gold or do partnership and extract gold as we need money right now .
 

PakFactor

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If it doesn't than fault lies with people of Balochistan not anyone else
They're responsible for leadership they choose

This is the part that scares me there needs to be a mechanism in place of how these funds are utilized if not tribal/feudal’s will eat it up and we’re back to separatistic fighting .
 

raahaat7

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It is not good to let a foreign company extract our gold, we don't know how much of our gold they have already taken without our knowledge, reko diq gold reserves if properly used can pay all of our foreign debt and make us rich, these western powers will never let that happen so as a result they are again trying to take over by any means possible and it seems they are successful, we have seen to what length these western powers have gone to force us to give reko diq mines back to these companies. if nothing else is possible then give 900 million$ to this company and then extract gold by ourselves, make a new state-owned company with strick checks and balances that will extract the gold.
technology matters.
 

Clutch

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Aug 3, 2008
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I term this deal as another black day in the history of Pakistan, the government can make claims and show it as their achievement but the truth is they were coerced into this agreement and now the western company (western powers) are again in control of our gold, they can again give bribe and steal the gold and if we took any action again, they will penalize us with 100 billion dollars or more. May Allah protect this country.

In Pakistan opposition is working with the enemies and the government is run by naive people, only IK has some sense but he is alone.

You realize it's only for a parcel of land for resource development and recovery?... It's not the entire field area. Do you know how minerals are dispositioned?... I guess not.
 

Thinker3

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You realize it's only for a parcel of land for resource development and recovery?... It's not the entire field area. Do you know how minerals are dispositioned?... I guess not.
Do you think the Barrick will be investing 10 billion dollars for a small parcel of land?
 

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