The Reko Diq Joint Venture shareholders have approved the project’s updated Feasibility Study and conditionally approved the associated Phase-1 development capital, subject to the closing of up to $3 billion in project financing, APP reported.
The shareholders selected American construction firm Fluor Corporation as the lead Engineering, Procurement, and Construction Management (EPCM) partner.
Fluor will collaborate with the Barrick Owner’s Team on the detailed design and construction of the project.
Barrick President and CEO Mark Bristow highlighted the importance of the strong partnership between Barrick and the governments of Balochistan and Pakistan in developing one of the world’s largest undeveloped copper-gold deposits.
Operated by Barrick, the Reko Diq project is jointly owned by the federal government of Pakistan and the provincial
government of Balochistan.
The selection of Fluor as our EPCM partner strengthens our ability to execute the Reko Diq project with the technical rigor, operational discipline, and socio-environmental responsibility that are hallmarks of both companies, said Bristow.
“We look forward to working closely with Fluor to ensure that Reko Diq delivers lasting value to all our stakeholders, particularly the people of Balochistan and Pakistan”, he added.
Fluor will be supported by engineering consultants, including Knight Piesold, PRDW, and Vecturis, who contributed to the Feasibility Study. Bristow emphasized that Fluor’s selection reflects a joint commitment to executing large-scale mining projects responsibly and efficiently while maximizing local content and community development.
Key equipment suppliers such as Metso, Weir, and Komatsu have also been engaged to provide the majority of processing and mining equipment.
“These engineering and supply partnerships bring extensive global experience delivering large copper concentrate projects in challenging jurisdictions. This aligns strongly with Barrick’s record of developing and operating major projects in difficult conditions,” added Bristow.
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And the credit goes to COAS.
And this will suffer exactly like Saindak Gold.
Balochistan will get NOTHING.There is no need to involve externals, pakistani investors are far batter than externals.
But if we started thinking about pakistan or balochistan in particular for this, WHAT WILL HAPPEN TO DREAMS OF INDIVIDUALS….
THINK AND WRITE ON THIS
Baluchistan share is 25pc for nothing. The fed share is also 25pc which it will sell to foreigners
Which Pakistani group can take risk to pitch 2 or more Billion USD for many years with all these risks.
Let’s see who’ll be Main Beneficiaries
Baluchistan Pakistan and it’s People , OR as usual Foreign Investors and Companies 🤔
غلامی زندہ باد