The federal government will cover the entire cost of the development of Reqo Diq, which is one of the world’s largest undeveloped copper and gold mines in Balochistan.
Prime Minister (PM) Imran Khan tweeted the declaration after criticism from the province’s political leaders who had slammed the Reko Diq project’s proposed deal.
He said, “In line with my govt’s vision for [the] uplift of smaller provinces, I have decided our fed govt will bear all the financial burden for Reko Diq & its development on behalf of Govt of Balochistan”.
The premier ibelieves that the action will help to usher in a new age of prosperity for the people of Balochistan and the province.
The Chief Minister of Balochistan, Mir Abdul Quddus Bizenjo, praised PM Khan for the federal government’s undertaking, and reiterated his remarks that the historic move will bring peace and prosperity to the province.
Tethyan Copper Company Pakistan (Pvt.) Limited is a fully owned joint venture company of Barrick Gold of Canada and Antofagasta Minerals of Chile that originally discovered huge mineral deposits at Reko Diq at the foot of an extinct volcano near Pakistan’s border with Iran and Afghanistan more than a decade ago.
At the time of the discovery, prominent authorities asserted that the deposit had the potential to be one of the world’s largest undeveloped copper and gold mines.
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