Barrick Gold is coming back to Reko Diq

[farok84]

 

[AZADPAKISTAN2009]

Settlement is the best option for both parties. Demand for copper will increase dramatically with higher EV use. No new copper mines have been opened for years now and existing ones are close to depletion. World economy needs more copper.

Pakistan is judgment proof. ICSID can't make Pakistan pay the fine. Hotels in NYC are worth a fraction of what they were 10 years ago.....so going after the Roosevelt hotel is hardly worth the legal fees for Barrick.

I heard it was closed down operation wise however

Roosevelt Hotel is a strategic Asset for Pakistan, we should keep it open as it was a money maker prior to Pandemic, I have seen the images for interior looks wonderful Hotel

Or it should be sold to Trump Foundation who has shown interest in Hotel between 750 Million dollar to 1 Billion Dollar in past in case PIA should ideally focus on Airlines. Trump's business is primarily in Hotels and Hospitality so this would be ideal thing to let his foundation take over the hotel by a Direct Purchase

The billion dollar should be transferred to something else

• 10-20 Satellites Purchase
• Funds Transferred to Pakistan's Space Agency

 

[Hyde]

This news made me really happy as Barrick confirmed on their twitter account themselves… now I hope opposition parties don’t stall the project again if Imran Khan is departed this month or after the next general election

We had enough politics on this project and still nothing concrete on the ground since 1978…

Now it’s time to move on and start digging the gold

 

[hydrabadi_arab]

More details

Contract will last 40 years and at current prices Pakistan/Balochistan will get benefits of $320b.

 

[Maula Jatt]

Just how significant is this Reko Diq Barrick gold deal?, I see Hammad Azhar saying how this deal can help us with our dollar/foreign exchange problem to a great extent?
when will we start seeing results from this deal? @farok84 @hydrabadi_arab @CrazyZ

 

[AZ1]

Will they also transfer technology?

 

[hydrabadi_arab]

Just how significant is this Reko Diq Barrick gold deal?, I see Hammad Azhar saying how this deal can help us with our dollar/foreign exchange problem to a great extent?
when will we start seeing results from this deal? @farok84 @hydrabadi_arab @CrazyZ

At current prices of copper and gold. Pakistan/Balochistan will get $1.3b per year with 50% share if production estimate are true. This doesnt include taxes, jobs, royalty to Balochistan. And Barrick will only mine small part of RD so imagine if this take of then more and more companies and investment will come. These are old estimates.

In 5-6 years when production will start who knows where will price of gold and copper be. 10 years ago price of gold and copper was much lower.

Again it all depend on first step. Someone have to take it. If more companies come then yearly benefits may as well reach $5b in 10 years.

Will they also transfer technology?

Federal entities will work alongside Barrick. So possible.

 

[SoulSpokesman]

This could be a game changer for Pakistan. Afghanistan already has a lot of lithium. The geology of North Baluchistan and NWFP is very similar to A'stan. Apart from gold and copper there could be lots of other minerals in the region too.

Regards

 

[Patriot forever]

Hi,

Do you have more information on the processing, is it only limited till concentrates or are they planning treatment plants too?

I think the figure of investment gives us the clue. A $10b investment can't be just the mining ore shipping investment but also the processing/treatment facilities.

This is just my opinion though.

 

[blueazure]

Barrick isn't getting anything, they are investing $10b. Its other company that will get $900m to give up their share that will be taken by Pakistan SOE. Because they didn't want to come back. You confused the two.

barrick is walking away with 50%

day light robbery by PTI -


A new agreement was signed by representatives of the federal and Balochistan governments with a delegation of Barrick Gold, led by Chief Executive Dr. Mark Bristow. As per the terms of the new agreement, the Reko Diq project would be revived and developed by Barrick Gold in partnership with Pakistani entities. The new project will be owned 50 percent by Barrick Gold and the remaining 50 percent shareholding will be owned by Pakistan, divided equally between federal government and the provincial government of Balochistan.

BR-ePaper | Mar 21, 2022 | Page Front Page 1

epaper.brecorder.com

 

[Imad.Khan]

barrick is walking away with 50%

day light robbery by PTI -


A new agreement was signed by representatives of the federal and Balochistan governments with a delegation of Barrick Gold, led by Chief Executive Dr. Mark Bristow. As per the terms of the new agreement, the Reko Diq project would be revived and developed by Barrick Gold in partnership with Pakistani entities. The new project will be owned 50 percent by Barrick Gold and the remaining 50 percent shareholding will be owned by Pakistan, divided equally between federal government and the provincial government of Balochistan.

BR-ePaper | Mar 21, 2022 | Page Front Page 1

epaper.brecorder.com

Compare that to what the previous govt had signed?

 

[WinterFangs]

Just how significant is this Reko Diq Barrick gold deal?, I see Hammad Azhar saying how this deal can help us with our dollar/foreign exchange problem to a great extent?
when will we start seeing results from this deal? @farok84 @hydrabadi_arab @CrazyZ

Well another thing to add from @hydrabadi_arab is that the reko diq is currently valued at $250 billion, but it’s estimated to be upwards of $1 trillion.

 

[blueazure]

Compare that to what the previous govt had signed?

75% vs 50%


------

daylight robbery nonetheless

 

[WinterFangs]

75% vs 50%


------

daylight robbery nonetheless

You would have never got 75% since the last crap government agreed with 25%, maybe if they did 50% you could have got 75% but that would’ve been hard on its own. Getting 50% is a massive deal.

 

[Imad.Khan]

75% vs 50%


------

daylight robbery nonetheless

Incorrect, before it was only 25% and only for Balochistan govt plus 2% royalties.

The Reko Diq timeline

On July 12, an arbitration tribunal of the World Bank’s International Centre for Settlement of Investment Disputes awarded a massive $5.976bn in damages to the Tethyan Copper Company in...

www.thenews.com.pk

Next time please do a fact-check before posting.

Guess whos party was in power both in Islamabad and in Balochistan?