Natural resources of Pakistan

[Jango]

Barrick Gold Corporation - Reko Diq

Interesting info.

And from Wikipedia( i know not the most reliable source)
Reko Diq has proven gold and copper reserves worth US $125 billion. It is estimated that area has 12.3 million tons of world class copper and 20.9 million ounces of gold. However, later it has been claimed by several Pakistani scholars that the gold and copper reserves worth is far more than estimated earlier, that is 1000 billion dollars. [1]. Baluchistan government had decided to set up copper/Gold refinery and processing plant in province.

 

[VCheng]

Barrick Gold Corporation - Reko Diq

Interesting info.

And from Wikipedia( i know not the most reliable source)
Reko Diq has proven gold and copper reserves worth US $125 billion. It is estimated that area has 12.3 million tons of world class copper and 20.9 million ounces of gold. However, later it has been claimed by several Pakistani scholars that the gold and copper reserves worth is far more than estimated earlier, that is 1000 billion dollars. [1]. Baluchistan government had decided to set up copper/Gold refinery and processing plant in province.

Now those are realistic numbers: 12.3 million tons of copper, the majority of which should be recoverable, say around 7-10 million tons:

10 million tons @$10k per ton is about $100 billion dollars worth of recoverable copper.

After development, infrastructure and financing cost are taken out, the advantage to the Pakistan economy can be estimated at about $50 billion over 25 years, or about $2 billion per year direct benefit.

Add in the gold and the benefits will be somewhat higher.

This should be eminently achievable.

 

[Jango]

Now those are realistic numbers: 12.3 million tons of copper, the majority of which should be recoverable, say around 7-10 million tons:

10 million tons @$10k per ton is about $100 billion dollars worth of recoverable copper.

After development, infrastructure and financing cost are taken out, the advantage to the Pakistan economy can be estimated at about $50 billion over 25 years, or about $2 billion per year direct benefit.

Add in the gold and the benefits will be somewhat higher.

This should be eminently achievable.

Definitely, this is way more realistic, while still very good and beneficial for Pakistan.

 

[Faiez]

Now those are realistic numbers: 12.3 million tons of copper, the majority of which should be recoverable, say around 7-10 million tons:

10 million tons @$10k per ton is about $100 billion dollars worth of recoverable copper.

After development, infrastructure and financing cost are taken out, the advantage to the Pakistan economy can be estimated at about $50 billion over 25 years, or about $2 billion per year direct benefit.

Add in the gold and the benefits will be somewhat higher.

This should be eminently achievable.

thats only the part which has been sold to the foreign company...

there is more PROVEN copper ore there. But it has not been auctioned/sold yet...

 

[VCheng]

thats only the part which has been sold to the foreign company...

there is more PROVEN copper ore there. But it has not been auctioned/sold yet...

I am sure there is more out there, but I would wait until they are proven, not just claimed, or presumed to be present based on limited unverified data.

 

[Jango]

thats only the part which has been sold to the foreign company...

there is more PROVEN copper ore there. But it has not been auctioned/sold yet...

Copper and gold of the state is auctioned?

If this is the share of the company, then the Pakistani share could be atleast double this, right?

 

[kanpur]

dont even touch those natural resources till we have corrupt leaders.

they will sell them too.

one of the corrupt leaders of Pakistan is sitting outside country by looting common mans money to the foreign banks just like what happens in India.In this matter India is miles ahead of the Pakistan?:

 

[blackcobran]

Are these resources really sold by our corupt leaders????
ans me guyz

 

[Faiez]

Copper and gold of the state is auctioned?

If this is the share of the company, then the Pakistani share could be atleast double this, right?

license to mine in an area for a given time is auctioned. Highest bidder takes it.

government decides share of profit etc. and where the material goes.

mining companies apply for a mining license for a particular place..

the supreme court etc review their application and decide...

everything that is state owned, before their selling, the courts have to check if its legal/constitutional/reasonable or not..

In this case ( barrick corporationt ) , the supreme court said that the baluchistan government decide wat to do. They decided the share etc...

the problem here is that local companies can never get these mining licenses since they dont have enough capital to buy/lease it and a foreign company outbids them.

The pakistani leadership should recognize the need for local companies to get into mining business so the country benefits and not just businessmen from abroad..

I personally suggest them to ban or limit exports of everything dug out of the land and put complete restriction on foreign ownership of mines and agricultural land in general.

Even better will be state owned mining companies who do all the digging and no foreign company be allowed to mine in pakistan. That wud be best.

That way, the resources we have will remain with us. And will be used to build our country.
Always remember, its the physical material that builds countries, not daallar...

 

[Jango]

license to mine in an area for a given time is auctioned. Highest bidder takes it.

government decides share of profit etc. and where the material goes.

mining companies apply for a mining license for a particular place..

the supreme court etc review their application and decide...

everything that is state owned, before their selling, the courts have to check if its legal/constitutional/reasonable or not..

In this case ( barrick corporationt ) , the supreme court said that the baluchistan government decide wat to do. They decided the share etc...

the problem here is that local companies can never get these mining licenses since they dont have enough capital to buy/lease it and a foreign company outbids them.

The pakistani leadership should recognize the need for local companies to get into mining business so the country benefits and not just businessmen from abroad..

I personally suggest them to ban or limit exports of everything dug out of the land and put complete restriction on foreign ownership of mines and agricultural land in general.

Even better will be state owned mining companies who do all the digging and no foreign company be allowed to mine in pakistan. That wud be best.

That way, the resources we have will remain with us. And will be used to build our country.
Always remember, its the physical material that builds countries, not daallar...

Yeah, BP is doing some oil exploration near badin as well.

But AFAIK, everything that comes from under the surface is of the state.

So, what do you mean is that the company does the mining, drilling and all that, extracts and refines the ore, then it gives it to the state which then gives the company a pre-set share?

 

[Faiez]

Yeah, BP is doing some oil exploration near badin as well.

But AFAIK, everything that comes from under the surface is of the state.

So, what do you mean is that the company does the mining, drilling and all that, extracts and refines the ore, then it gives it to the state which then gives the company a pre-set share?

no, they negotiate who gets what first..and then company mines/drills etc and part of the profit which was agreed upon is given to state. They state owns a part/share of the facility..depending on how well they negotiated..

but different countries do things differently...

I once read in newspaper that supreme court once took away the license from some local small time companies cuz they didnt develop/extract anything from the area even after several years...
so that also happens..

 

[Jango]

no, they negotiate who gets what first..and then company mines/drills etc and part of the profit which was agreed upon is given to state. They state owns a part/share of the facility..depending on how well they negotiated..

but different countries do things differently...

I once read in newspaper that supreme court once took away the license from some local small time companies cuz they didnt develop/extract anything from the area even after several years...
so that also happens..

So, in a way, the state is going by the rule of the company?

 

[Faiez]

So, in a way, the state is going by the rule of the company?

what do u mean?

the state has full control of everything..

if it wishes, it can nationalize everything and take over all the companies and tell all foreigners to **** off...

that is the reason why communism is so much hated by business men and they always support "freedom"...

if the state wants, it can nullify everything and keep everything.

 

[muse]

Are these resources really sold by our corupt leaders????
ans me guyz

These resources are mined, extracted, refined - for just one purpose, to be sold -- but this is a very small part of the story - the real story is composed of all the steps, obstacles than any producers will have to negotiate in order to extract the resource and bring it to market -- there are any number of rent collectors in the way, claims on the land, outright terrorism to get the producer to either pay more to a rent collector or his his men or both, the payment of rent to the officials of the state for infrastructure, for timely decisions, for efficient and fair adjudication, for not creating legislative obstacles, labor obstacles, for not holding up machinery and parts

See, it's not just "corrupt leaders", it is the system of rent collecting - to confuse people, some say the state should take over, after all, is the state in the business of being in the mining business? but the real reason for such suggestions is two fold, first to pressure the private producer to "pay up" and more importantly, to place government bureaucrats with political connections in the position to promise ot produce at below the cost of production - this is the most important motivation for corruption, after all, the cost of production will then be borne by the state and generate losses, which will then have to be recouped through more state expenditure.

 

[VCheng]

These resources are mined, extracted, refined - for just one purpose, to be sold -- but this is a very small part of the story - the real story is composed of all the steps, obstacles than any producers will have to negotiate in order to extract the resource and bring it to market -- there are any number of rent collectors in the way, claims on the land, outright terrorism to get the producer to either pay more to a rent collector or his his men or both, the payment of rent to the officials of the state for infrastructure, for timely decisions, for efficient and fair adjudication, for not creating legislative obstacles, labor obstacles, for not holding up machinery and parts

See, it's not just "corrupt leaders", it is the system of rent collecting - to confuse people, some say the state should take over, after all, is the state in the business of being in the mining business? but the real reason for such suggestions is two fold, first to pressure the private producer to "pay up" and more importantly, to place government bureaucrats with political connections in the position to promise ot produce at below the cost of production - this is the most important motivation for corruption, after all, the cost of production will then be borne by the state and generate losses, which will then have to be recouped through more state expenditure.

Didn't I mention bad governance before?