Reko Dik exploration contract cancelled

[owais.usmani]

Reko Dik exploration contract cancelled ​

QUETTA: The government of Balochistan has cancelled an agreement with an Australian company for exploration of copper and gold in the Reko Dik area of Chaghai district.

A decision to this effect was taken unanimously by the provincial cabinet on Thursday. The cabinet also decided not to lease out the land to the company for further work.

Chief Minister Nawab Aslam Raisani said: “Cancellation of the Reko Dik copper and gold project agreement is a step towards getting control over provincial resources in accordance with the wishes of the people.”

He said any agreement which undermined the rights of indigenous people would be cancelled.

Cancellation of the agreement, it may be mentioned, has been one of the main demands of Baloch nationalist parties.

The cabinet was informed that the provincial department of mines and mineral had submitted a PC-1 for setting up a plant in Reko Dik for processing 15,000 tons of ore.

The chief minister had earlier held consultations with the coalition partners on the matter at a parliamentary party meeting.

Briefing the cabinet on the project, Chief Secretary Nasir Mehmood Khosa said the Tethyan Copper and Gold Company (TCC) had been given licence only for exploration of copper and gold and the land had not been leased out.


Official sources said the Balochistan government had handed over affairs of the project to the department of mines and mineral development and acquired the services of eminent nuclear scientist Dr Samar Mubarakmand who would head its board of governors.

The additional chief secretary for planning and development, the secretaries of finance, industries and mines and mineral development, the president of the Balochistan Mine Owners’ Association, and the managing director of the project will be members of the board.

The exploration work was started in 1991 and the Balochistan Development Authority signed an agreement with an Australian firm (BHP) on July 29, 1993.


Under the agreement, 75 per cent shares were given to the company and 25 per cent to the provincial government. Later, the BHP transferred the agreement to the TCC which sold 19.95 per cent of its stake to Antofagasts Minerals.

The vast site contains 12.3 million tons of copper and 20.9 million ounces of gold in inferred and indicated resources. The copper deposit is four times larger than in the adjoining Saindak area.


Reko Dik exploration contract cancelled

 

[BATMAN]

This is not Balauchistan issue, it is national issue and descion should have come from fedral govt. same as fedral govt. canceled kalabagh project.
Some one must hang those anti state politicians and corrupt judiciary of Pakistan.

 

[AZADPAKISTAN2009]

Only an idiot gives 75% to a forigne country's company ....

It should be 80% to Pakistan
10% to balouchistan (bonus for its provincial on top of )
7% to company , who helps extract the items (Which still is ALOT)
3% for traning local Pakistani engineers for Transfer of technology
and knowledge

Just like the idiots who were selling thousand and thousand acres to Saudia and Middle eastern countries to kill off our own farmers - while the Middle eastern countries would get 100% ownership of crops from our lands ...

No one should be given anything more then 8% ownership specially forigne countries

If our judicial system was strong , our own people woudl bring in so much capital into nation its too bad that our politicians do not see this and they do these expos to chase , other companies - while the main judicial system to protect rights and ownership is crap in our country

 

[BATMAN]

^^true but fedral govt. has to over see such issues fo national importance.
Zardari was selling lands to UAE sheikhs for building his personal relations now did Punjab govt. canceled such contracts?