Reko Diq Mystery
Reko Diq is a small town in Chagai District, Baluchistan having the world’s largest Gold and Copper reserves (!!!). Reports emerging from various sources indicate that the US $ 65 Billion natural deposit might have been sold for US $ 21 Billion to Tethyan Copper of Australia which has taken the contract to develop this mine while Barrick Gold Corporation of Canada and Antofagasta of Chile have a joint-ownership of the copper-gold deposit at Reko Diq.
The Reko Diq deposit is being explored by Tethyan Copper Company Pty Ltd (75%) and the (BDA) Balochistan Development Authority (25%). Tethyan Copper Company is held jointly (50:50) by Barrick Gold Corporation and Antofagasta Minerals.
Currently the deposit is at scoping / pre feasibility stage. It is a world class copper / gold porphyry style deposit, typical of the tethyan belt. It has been sold to the Zionist controlled regimes by the Pakistani Government under the dictator at a price of $21 billion. Rough estimates suggest that the gold and copper at the surface accounts for $65 billion worth of deposits.
Dawn: Reko Diq is a giant copper and gold project in Chaghi, containing 12.3 million tons of copper and 20.9 million ounces of gold in inferred and indicated resources. The copper-gold deposits at Reko Diq are believed to be even bigger than Sarcheshmeh in Iran and Escondida in Chile. The Reko Diq copper deposits which is in the neighbourhood of Saindak copper project, is four times larger in copper ore tonnage than Saindak. The most credible international surveys suggest that Reko Diq is one of the biggest undeveloped copper projects in the world with over 11 billion pounds of copper and nine million ounces of gold. So far, three foreign companies have purchased stakes in the strategic copper and gold assets setting off a cycle of ‘change of foreign ownership’ of Reko Diq copper project. Pakistan has only 25 per cent stake in the Reko Diq copper project. The rest of the 75 per cent stakes had first been transferred to BHP Billiton, the Anglo-Australian mining giant and then BHP Billiton under a ‘deed of waiver and consent’ transferred it to the Australian TCC and now TCC has sold its 19.95 per cent stake to Antofagasta Minerals.
The question for the wider audience on this blog is to find out if this is actually true, it apparently seems that with a very small stake in the overall project (25%) we might be on the wrong end of the stick. I cant seem to make any sense behind this but open the floor to experts who might better be able to shed light weighing in this PDF report that has some serious mining data supporting the Riko Diq project
Comments
@OBI ;) very true - i never realized that this was reported in 2006 - well what can I say. success or failure - we should know about it anyway (heck I never had heard of it) was new to me
I had never thought if we are gold enriched country, heck they sold it for too cheap … Gold prices have doubled in past 2 years we certainly could have made more isn’t?
$ 21 Billion ???
No I think there would be some change too, that fell into the pockets of BDA officials and the thugs of MUSH govt.
Now its time for Asif Zar-dar-ee to get his 40%.
Obi, my jedi knight, Teeth is on a sacred mission to remove evil sith lords who have taken over the empire, you must not violate the sacred Jedi code, instead help him and not to succumb to evil and become sith lord darth vader.
May the force be with you.
“we can never be master of our own fate.poor us!! poor pakistani will remain poor. 25% - 75% a poor proposition. Who could forsee middle east like today a 100 years ago? Thats how they prosper using their earthly resources. We have never been allowed to search out or dug out the minerals even though we are rich in oil, copper, gold, coal and I wonder “Diamonds”??
May Allah take care of us.
This is a common issue in mineral-rich regions. I saw the same thing happening in the DR Congo region of Katanga where the Chinese are setting up to mine coltan as fast as they can. The one big difference is that through DR Congo’s decades of corruption under Mobutu and now under Kabila II, the entire infrastructure is completely collapsed and they are simply unable to mine their own mineral wealth, which includes a great deal of gold, diamonds, and other materials in addition to the coltan.
But, from what I understand, Pakistan is in considerably better shape than DR Congo and should be conducting this mining operation on their own. So… why aren’t they? Is it just a payout to some upper brass or is Pakistan actually unable to develop this region internally or is Pakistan unable to sell (or use) the materials on their own?
THEY ordered us to ‘bend over’ a long, a very long time ago, we have forgotten…we can’t walk straight any more!
Musharraf Zindabad
Benazir Zindabad
Zardari Zindabad
N.Sharif Zindabad
did I leave out any body?
I got this story in email few weeks back by some journalist, it was before Awab posted it here, but to me it was nothing new………
There are “kick-backs” and corruption in each and every deal made by Pakistani governments, with exception of ZA Bhutto, who was not corrupt in terms of finances.
Rest all were/ are equally corrupt and dishonest, Zia, Nawaz, Zardari, Musharaf, Shaukat Aziz………each of them and their teams worst thieves then others, right from ZIA and his generals selling americans weapons and smuggeling drugs to Nawaz’s expanding industrial empire, Zardari’s commisson stories and Musraf’s PAKISTAN STEEL MILLS SCANDAL, our history is a painfull story of corruption.
Before jumping to any conclusion without solid proof that whats potentail of mine and what would have been equity ration, can someone put some figures that how much is production from the place and if such high potentail then what we Baluchistan development authority is getting in return of 25% share.
This must not be a wonder that this place was given for some kick backs but the value above seems to be too much inflated and looks like a brain child of some so called journalist.
One more thing, developing such projects needs lots and lots of investment, most sophesticated technology and a peacefull enviornment, all of three requirements are missing here specially in given law and order situation in Baluchistan, as long as its developed and Baluchistan Development authority can get 21 Billion $(as stated in post), without any investment or infrastructure development. It still might worth it……21 Billion $ for BDA is a lot of cash and still they have entire Baluchistan to explore.
The world copper and gold prices have more then doubled fro the first estimates for our reserves as given by you in this post.So the mines are worth much more.
But don’t worry.these foreigners will not be able to take anything away.The will give us the cash for their rights and also flee when confronted by the ‘terrorists’.
Gold & Copper are for the foreigners and their caretakers in the Country. Bombs & Price hike is for the poor Pakistanis.
Why do we have a seige mentality. US$21 billion plus 25% stake of BDA for a US$65 billion mine is a prteey good deal by any standards. Has anyone of you thought the amount of finances, infrastructure and manpower development is required if one gets 75% of 65-21 billion dollars = US$33 billion? And that too spread over many many years. We can keep sitting on it and wishing we had the resources to get the whole piece of pie or we can go ahead and get the development now by paying a certain price.
INDEPENDENT & Properly restored Judiciary of 2nd November 2007 is the Solution of problems like these. Untill we have Judges restored to their positions we will be facing more worst situations then what we are facing at present. PAKISTAN BACHAIN GAE JUDGES BAHAL KARIAN GAE INSHALLAH.
What has the restoration of judges got to do with an excellent deal we have for Reco Diq is beyond my comprehension.
Its really an alarming situation as how the “FREEMASON” Jews have taken over the world banking system by putting in the FAKE paper currency whereas the actual wealth i.e. GOLD, SILVER, COPPER, BRONZE is being vanished away… The financial fraud of Currency has given so much power to these few private bank owners of States and Britan that they can control whatever they want; whether its a WORLD WAR, INFLATION, OIL SHORTAGE etc… We need to “OWN” our property and it doesnt matter what its worth because counting in USD $ is just a gameplay. We must remember that behind dollar is only and only “GOLD” which makes it an exchangeable currency. Do study the Federal Reserves issue.
what the heck..!!!!!!!!!!
we want it ourselves
why are we giving OUR TREASURE to others..?????????
this project and deal with foreigners should be canceled immediately………..
It is our own inability to succeed, and we blame everything on the Jewish/American/Indian conspiracy, and of late on Mush and the delay in restoration of the ex-judges. I guess we’d rather remain poor, un-educated, intolerant and fanatically bigoted rather than learning how the world system of economics work, mastering it, and then beating everyone else in their own game. We must come out of this paranoia and let the development take place or be prepared to forever live the life of cavemen and pass on the smae mindset to our kids and the generations to come. Pakistan Zindabad indeed.
Please brothers visit http://www.rekodiq.com and http://www.rekodiq.net for complete information with pictures and proofs that these companies belong to Zionist. I think thats a very good effort.
I hear that the CEO of Tethyan, the company that is managing the Reko Diq project is being replaced. Anybody know why?
$65 Billion! Now here is another reason for the US forces to attack Pakistan. Nowhere in the world have the US forces invaded without an economic incentive. Long live the “Taliban” who were hired, trained and used by the US… and still are.
Well its good we are getting atleast that much.
If the government is in strenght then it should revise the price or share according to the world market fluctuations.
May the best DEAL win
Just wanted to ask you ppl ?
Name one extraction project that we was done by all pakistanis ……
Whether it was sui whether it was mari feild Gas project … thar coal project. It was all headed by foriegn mining companies and they always had grabbed a major share over the projects …..
so y blog on only this project …..
atleast we are getting 25 % of this project ….
what about thar coal discovered 30 yrs back ….. it haven’t started benefiting yet ……. just bcoz of corruption , mismanagement of all our fucking politicians and generals.
every one after liaqat ali khan in this country are corrupt.
Whether it was ayub khan, ZA bhutto , Zia ul Haq , nawaz sharif , benazir bhutto , musharraf .
And so are the people who don;t even realize what they are doing to the country. Trusting on same politicians again and again and again .
Coming back to the point …..
These reserves has no worth as compared to what Balochistan has to offer. But what the sardars do over there ….. ” HAMARI ZAMEEN PER QABZA HO RAHA HAI” Y the hell we can;t produce miners and mining companies ….. Those sardars don;t even let their ppl to study even very basics. If mining institutes are opened in balochistan and if the ppl they are allowed to educate them selves, only then we will be able to claim our whole wealth …..
The origional contract for mine was signed in the 1990s. Seems like people what more reasons to bash Mushy. lol
The article stinks of “Xenophobia” is the value quote of minerals based on copper and gold worth in 1990s or today, big difference if it is? Is it better to leave minerals in ground or make money from them?
Salam to all
How long we will continue to blame BDA, Mush Thughs or Zardari. Certainlly, they all are thugs. But what we r doing? Can we do any constructive effort to save our natural reserves from all these thugs whether they are local or international e.g. Barrick Gold Corp?
the working on this project(reco dick) is carried by 1 ausralian company and 1 israelian company, In pakistan Isreal is a ban country, then what this????????
75% of this project is own by these companies and 25% percnt is only for pakistan!!!!!!!
this project is started in President Bitch Musharaf.
this is insane pakistani government has done a terrible job giing its peoples property to zionist 65 billion orth of gold crap man pakistan overall debt it is 40 billion and 65 bill worth gold sold a new estimates show that it contain upto $244 billion of gold and copper. another site in sindh “LAKHARA” has world largest coal reserves worh 800 to 1.3 trillion$ worth coal and another survey done by worlds largest daimonds company it also contain daimonds worth trillion$ more .ALLAH has blessed pakistan with this and acc to him it is the property of its citizens .I hope that an honest and a true patriot who should have knowledge of world and here after would lead us muslim to sucess and would thi project too.
JUNAID.ABDUL.HAMEED
Dear Pakistani brothers:
who have left all these colorful comments about REKODIQ.
You are all misinformed –i am a geologist and know the real picture and how things actually work in the Geological world.
All countries have PSA(Production sharing Agreements)and they take cost recovery benefits plus some schools and buildings– but the companies who risk their Capital get a 35% kicker at most– so 65% remains in the country and 35% goes to the companies after they have done their COSTRECOVERY–in Perspective ;look at the laws of Indonesia
6th generation COW’s(Contracts of work) and see– and be realistic– Indonesia is an extremelt rich mineral country
@K2PAKISTAN
can u please elaborate a bit….like, how these things works in geological world…. caz lots of ppl here might not b aware of it…. it wud b great if u shed light to it….
i think we should not lose ourselves to emotions, and jump onto conclusion without using our brains…. $21bn out of $65bn is not bad…. considering that Pakistan has 0% investment…plus….it will bring in latest techniques and state-of-the-art technology in this sector…. this is not all of it, as pakistan has much more resources…. we dont have resources to get it by ourselves, weather it b investment or technology…. we r standing nowhere…just think from other perspective… if we get all these latest trends nd techniques then we will get somewhere, and wont need anyone else for rest of our resources….
Sometimes I despair of my countrymen…..See the link below:
http://www.aaj.tv/news/Business/112607_8detail.html
Someone needs to tell these guys that driving into a project with 30 armed men in 10 trucks and making demands is not the best way to ensure that locals get employment. Whatever you think of the deal between the Pakistan and the western companies, the fact is that we need currently need the western expertise to extract and commercialise the minerals. It does no-one any good if the western personnell are asking to be removed from the project because they fear for their safety.
What made you report this after 2 years ? Do you want to show this a success of current government or for all these years, you were busy in reporting Ch. Loser Justice and could not find time for this.
Can we please write something about 16% subsidy on electricity bills which is taken off by our new loved democratic government and can you quote me the hike of prices of things for last 4 months. I want to laugh on you Mush haters but can’t because it’s lose-lose situation for all country.