· One of the important industries to the econotmy of Pakistan is the mining industry. The county has deposits of several minerals including coal, chromite, mineral salt, bauxite, copper and gold. Semi- precious minerals such as aquamarine, topaz, peridot, emerald and rare earth minerals like sphene, xenotime, tourmaline and bastnaesite and different varieties of quartz are […]
Uncertainty surrounds the future of a world-class gold mine in Pakistan due to poor handling of the project by regional authorities. Reko Diq is a copper and gold mine in Chagai district of Balochistan province with a value up to $500bn. It holds about 5.9 billion tonnes of ore, making it the world''s fifth largest deposit of gold and copper.
The Saindak Copper-Gold Project was set up by Saindak Metals Ltd, a company fully owned by the Government of Pakistan, by the end of 1995 at a cost of PKR 13.5 billion. Currently Metallurgical Corporation of China is operating two mechanized hard rock underground Copper-Gold mines with current production of 7.25T per annum of copper-gold from ...
· The 1998 agreement with Pakistan had mandated the company to mine the Reko Diq''s gold and minerals deposits throughout the 55-year life of the reserves. However, the project hit a snag in November 2011 when the Balochistan mining authority revoked TCC''s mining …
· Apr 9, 2016 - Saindak Gold mine chaghi Balochistan Pakistan. Apr 9, 2016 - Saindak Gold mine chaghi Balochistan Pakistan. Apr 9, 2016 - Saindak Gold mine chaghi Balochistan Pakistan. Pinterest. Today. Explore. When autocomplete results are available use up and down arrows to review and enter to select. Touch device users, explore by touch or ...
· KARACHI: Pakistan has allowed China''s MCC Resources Development Company (MRDL) to explore and develop eastern mines under the Saindak Copper-Gold Project for another 15 years, officials told Arab News on Wednesday. A small town in Balochistan''s Chaghi district, Saindak has huge mineral resources. The Chinese company will invest $45 million to explore copper and gold in the
· Pakistan army-controlled Frontier Works Organisation (FWO) will have a key role in the awarding of contracts to foreign firms in exploring Reko Diq, one of the world''s biggest untapped copper and gold mines. Sources have told Sputnik that China would be the only foreign entity the Pakistani military would deem fit in terms of security concerns.
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· The sale of Reko Diq mining rights is currently being reviewed by Pakistan Supreme Court in response to allegations of lack of transprarency.The entire discussion in the courtroom is primarily centered on valuations and estimates of traditional metals like gold and copper.
· According to the contract the mining company''s share was 75% and the Pakistan''s share was 25%, but for this 25% share, Government of Baluchistan had to invest 25% into the total cost of the mining project, which was 3.3 billion dollars (2 …
· Pakistan is home to 92 different minerals and boasts the world''s second-largest salt mines, second-greatest coal reserves, and fifth-largest stores of copper and gold. Yet with the mining sector responsible for just 3% of the country''s GDP according to government figures, there is still considerable work to be done to realise this potential.
· TORONTO — July 15, 2019 — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) ("Barrick" or the "Company") today announced that the World Bank International Centre for Settlement of Investment Disputes ("ICSID") has awarded $5.84 billion in damages to Tethyan Copper Company Pty Limited ("TCC"), a joint venture held equally by Barrick and Antofagasta plc, in relation to the ...
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