Barrick Gold is coming back to Reko Diq

[CrazyZ]

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

Copper may be the most valuable part.

 

[Maula Jatt]

So we'll be very rich right?

Pakistan 2030 anyone? All the balochs will have their own white, Asian, African servants?
Streets of queeta full of lambos

 

[CrazyZ]

So we'll be very rich right?

Pakistan 2030 anyone? All the balochs will have their own white, Asian, African servants?
Streets of queeta full of lambos

Lets not get carried away.

 

[farok84]

 

[WinterFangs]

So we'll be very rich right?

Pakistan 2030 anyone? All the balochs will have their own white, Asian, African servants?
Streets of queeta full of lambos

Bro Indians are different level deluded.
this was someone in the comment section of that video.

 

[sohail.ishaque]

Its better then previous deal but still its a huge loss for Pakistan, It shud had been 75/25 in Pakistan's favor.
I know the govt was trapped and had no choice but why the culprits are not hanged.
Also, we could had allowed them to take 50/50 for 5 or may b 10 years to clear their expenses and after that the ratio should be different.

 

[HaMoTZeMaS]

What is Pakistan's contribution to the 80%? Just the mine?

Without the machinery, knowledgebase, market access that the Mining conglomerate provides, the gold in the ground is worth nothing. Consider that the company will be employing locals; including ToT hence Pakistan's actual share is higher, you can't put a price on knowledge.

The Company not bringing just tech and machinery
but also The customer base with it, to whom this resource can be sold seamlessly

Eager to get more than 50 % dont know anything How the Companies work in Markets.

If you want 80 %, first you need Customer base to whom you will sell 80 5 of your share. Pakistan has Jackshit

This company has established network of Sales
Yesterday refined and today Sold

I am not an expert but I LIKED your reply if you note

220 million people get 50% one small company gets rest of the 50%, this is rip off

Why dont you go. open a Mithai ki Dukan, run it for a year or so
Come back and then ponder on what nonsense you are posting here

 

[HaMoTZeMaS]

100% owners to putto na phir bhai. Why giving it to a mining company at all SMH.

80% Just the mine ? Bhai we are 100% owners and we give away 50% just for services ? thay want 250 billion USD for the services ?

Can you please bring up some past record of companies to provide extraction services against the profit margin they are taking
you might be surprised

Services dont come cheaper, Ever you had a Safai wali at your home, you might have known

 

[CrazyZ]

Can you please bring up some past record of companies to provide extraction services against the profit margin they are taking
you might be surprised

Services dont come cheaper, Ever you had a Safai wali at your home, you might have known

Personally, I have seen many Pakistani's get too greedy in real estate or business.....wanting 100% profit and ending up with nothing. Sometimes its better to take a 50% gain especially when you are doing little to get this gain. Too much greed is not a good a thing.

 

[Indus Pakistan]

BABY STEPS

These guys live in this deluded world where they think every grain of sand in Pakistan is full of oil, gold, diamonds, copper and untold richs that the whole world is gagging to get hold of.

The truth is nobody goves a flying fcuk about Pakistan. In global natural resources Pakistan does not even make 0.5 of 1% and that is being charitable when the truth is it's proably near 1/10 of 1%.

The big boys are Australia, Russia, Saudia, Chile, South Afrca, Indonesia, USA, Iran, Kazakstan etc. The biggest suction machine that is cleaning the world like a hungry monster of antural resources and that is CHINA.

If Pakistan was so loaded why is China not relying on it's mountain ocean friend to mone these resources. Instead China relies on Australia, Russia and African countries. This is despite it's rivalry and antagnism with Australia.

 

[TheSolution]

Bro Indians are different level deluded.
this was someone in the comment section of that video.

View attachment 826068

 

[WinterFangs]

@Bleek he is right, Chinese small chest, 2 inch. indian big chest, modi ji 56 inch.

 

[Big_bud]

What a great win for Pakistan!

11 Billion $ compensation claim dropped. Barrick's share reduced from 75% to 50%! 100 years lease! 25% Share to be received by Baluchistan, 25% to be received by Federation.

Imran Khan has saved some approximated 15 billion US $ of Pakistan in past 3 years through pursuing extremely 1 sided, poorly done contracts by nooni toon government!

1. IPPs. 2. Karkey 3. Reko Diq

3 important re-negotiations saved us 15 Billlion USD! 15 Billion USD is a huge amount, mind you we are following strict requirements of IMF just for 1-2 Billion USD.

 

[Big_bud]

If true,, may we will see some progress.
Previous governments had made this crime of stealing money and had a contract like this..

Barrick Gold Corp, Pakistan agree to revive Reko Diq Project​

• Project will be developed by Barrick Gold in partnership with Pakistani entities

BR Web Desk
20 Mar, 2022

Barrick Gold Corporation and the governments of Pakistan and Balochistan have reached an agreement on a framework that provides for the reconstitution of the Reko Diq project in the province.

The development was confirmed by Prime Minister Imran Khan on Sunday in a Twitter post. "I congratulate the nation and people of Balochistan on successful agreement with Barrick Gold for development of Reko Diq mine after 10 years of legal battles and negotiations. Penalty of approx $ 11bn is offset, $10bn will be invested in Balochistan, creating 8,000 new jobs,” he wrote.

In another tweet, he added: “RD will potentially be the largest gold & copper mine in the world. It will liberate us from crippling debt & usher in a new era of development & prosperity.”

Separately, Barrick Gold Corporation issued a press release, which said: “The project, which was suspended in 2011 due to a dispute over the legality of its licensing process, hosts one of the world’s largest undeveloped open pit copper-gold porphyry deposits.

"The reconstituted project will be held 50% by Barrick and 50% by Pakistan stakeholders, comprising a 10% free-carried, non-contributing share held by the government of Balochistan, an additional 15% held by a special purpose company owned by the government of Balochistan and 25% owned by other federal state-owned enterprises. A separate agreement provides for Barrick’s partner Antofagasta PLC to be replaced in the project by the Pakistani parties."

Barrick’s president and chief executive officer Mark Bristow hailed the agreement as an important step towards the development and operation of Reko Diq.
“Barrick has successfully partnered with host countries worldwide and our philosophy of sharing the economic benefits our mines generate equitably with core stakeholders is also evident in the ownership structure of the new Reko Diq. This is a unique opportunity for substantial foreign investment in the Balochistan province and will bring enormous direct and indirect benefits not only to this region but also to Pakistan for decades to come. In addition to local employment and skills development, local procurement, infrastructure upgrades and improved medical and education systems, Reko Diq could also be the springboard for further exploration and other mineral discoveries along the highly prospective Tethyan Metallogenic Belt,” he said.

As per the new agreement, Barrick will be the operator of the project which will be granted a mining lease, exploration licence, surface rights and a mineral agreement stabilizing the fiscal regime applicable to the project for a specified period.
"The process to finalise and approve definitive agreements, including the stabilization of the fiscal regime pursuant to the mineral agreement, will be fully transparent and involve the federal and provincial governments, as well as the Supreme Court of Pakistan," Gold Barrick's statement noted.
"If the definitive agreements are executed and the conditions to closing are satisfied, the project will be reconstituted including the resolution of the damages originally awarded by the International Centre for the Settlement of Investment Disputes and disputed in the International Chamber of Commerce," it said.
Last year, Pakistan initiated talks with Barrick Gold to settle the dispute on Reko Diq as M/s Antofagasta of Chile was seeking financial settlement of their share in the award of $6 billion, well-informed sources told Business Recorder.
Sharing the details, the sources said, on July 17, 2019, a Tribunal of the World Bank’s International Centre for Settlement of Investment Disputes (1CSID) found Pakistan to have violated the Pakistan-Australia Bilateral Investment Treaty and awarded $6 billion (approx.) plus interest against Pakistan to Tethyan Copper Company Pty Limited (TCC), that is jointly owned by Barrick Gold PLC of Canada (Barrick) and Antofagasta PLC of Chile.
The tribunal had found that Pakistan unlawfully denied the TCC a lease to mine copper and gold deposits at the Reko Diq Mine, located in the Chagai district of Balochistan.
The sources said, on the directions of Prime Minister Imran Khan, a process of settlement talks with TCC was initiated. On August 22, 2019, the Prime Minister constituted a committee to steer the negotiations.

..

Wow, so local Pakistani companies will partner Barrack in development & operational works! Extremely well negotiated as compared to what it was before! 10 Billion $ investment for 50% share, government retains influence due to involvement of local partners and 50% share ownership! Much better than before. However I would have liked a 60-40 partnership, but still we need those 10 B $ invested asap!

 

[WinterFangs]

Wow, so local Pakistani companies will partner Barrack in development & operational works! Extremely well negotiated as compared to what it was before! 10 Billion $ investment for 50% share, government retains influence due to involvement of local partners and 50% share ownership! Much better than before. However I would have liked a 60-40 partnership, but still we need those 10 B $ invested asap!

Don’t worry, this experience will help Pakistanis in the future as they find more resources and minerals, which can then extracted and sold by Pakistanis. one small step for man, one giant leap for Pakistan.