Manan Mandokhail:
QUETTA: Chief Minister Balochistan, Mir Quddus Bizenjo on Tuesday said work on the multi-billion dollar Reko Diq gold and copper project would start on August 14th on the eve of the independence day of Pakistan. He expressed these views while talking to reporters at the CM Secretariat.
“Balochistan will get 25 percent share without any investment”, CM Bizenjo said. Balochistan will get one billion US dollar income as its 25 percent share from the project, he mentioned.
He reiterated that his government took all political leaders including Sardar Akhtar Mengal, Mehmood Khan Achakzai, Dr. Abdul Malik Baloch, and Maulana Abdul Wasey on board regarding the agreement with the Barrick Gold Corporation (BGC).
Gold production to start from Reko Diq by 2027
Gold production from the multi-billion dollar project is expected in 2027. The life of the project is expected to be around 40 years.
“BGC will provide jobs to 7500 people of Balochistan”, the CM mentioned. He said all-out efforts would be made to provide basic facilities to the local communities living in the Reko Diq. The provincial government struck a deal with the BGC after a thorough consultation and an in-camera session of the Balochistan Assembly to develop consensus in this regard.
An agreement reached between the Government of Pakistan, the provincial government of Balochistan, and Barrick earlier this year provides for the reconstitution and restart of the project, which has been on hold since 2011. It will be operated and owned 50 percent by Barrick, 25 percent by the Balochistan government, and 25 percent by the Pakistani state-owned enterprises.
