Pakistan is set to earn $53 billion over 37 years from the Reko Diq Copper-Gold project in Balochistan, which will also create 7,500 employment opportunities for the local population.
Officials told the Senate Standing Committee on Petroleum that the project’s financial close is expected next month, with construction scheduled to begin in 2028.
Phase one of the $7.7 billion mega project requires $3.5 billion in financing, with estimated construction costs of $5.6-6 billion. Phase two, planned for 2032, will cost $3-3.6 billion. Once operational, annual production in the first phase is projected at 260,000 tons of copper and 300,000 ounces of gold, increasing to 400,000 tons of copper and 500,000 ounces of gold in the second phase.
The project is expected to generate a total cash flow of $70 billion. The Balochistan government will receive $26 billion, the federal government $11 billion, and three government agencies will collectively earn $15 billion.
Beyond economic gains, the project will bring significant community benefits. Clean drinking water, upgrades to primary schools, and skills training programs are planned. So far, 380 residents of Chagai district have completed vocational training, and 27 students have received scholarships to study abroad.
Officials emphasized that there are no security concerns surrounding the project. International funding of $2.5 billion has been secured, with discussions ongoing with the World Bank, Asian Development Bank, IFC, and the governments of the United States and Japan to finalize the remaining financing.
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Claim after claim . We’ve heard these before
Jobs mean imposing predatory conditions on labor while certain people get the gold
We heard the exact same thing about cpec. Despite chinese best efforts. We didn’t do anything. And now we have placed tariffs on chinese platforms
We heard the same thing about kalabagh and bhasha dams. Still nothing after 50 years.
We heard the same things about every project.
Since when Standing Committee on Petroleum was expert on gold ? Petrol is not gold
Now some people will say i am pessimist or I am against development but they’ll never prove me wrong.
I can add
Pakistan Iran oil pipeline which was never finished… by Pakistan. It was supposed to bring affordable petrol to Pakistan
I should add USAID that never helped this country poor and destitute
We hear the same claims but all of these are never meant to help the people but the chosen few rich.
This is why other nations rise and Fendi bcz they work for the people not those in charge
Do not get disheartened by the opponents of your comments. They are the ones beneficiaries of this corrupt system. Their so-called ‘patriotism’ is confined only to the lip service. They are the ones who will benefit if gold really comes out (I am sure all this is drama to divert public attention from real issues). The people will remain the same, standing in the queues day and night.
Experts say the gold is woth far more of value which we are humbly surrendering to our foreign lords on a special cheapest rate. We never value our people our assets our resources. Plundering is going on and shall continue to go on as its our destiny and the power of people is no where and accountability is a joke. Leaders are all selfish and have their own axe to grind. No one is sincere to the country and the nation. Sorry to say all this but its what is obvious from our history.
Please stop publishing such sensational news. Nothing positive has happened here in the last nearly 80 years and nothing positive is going to happen here in future. The reasons: – corrupt leaders, poor governance, inefficient system, insensitive and emotional people, extremism, fundamentalism, and zero civilian grip over affairs of the State. These are only some of the reasons, not all.
Our leader and readers should see the progress of Barick gold in Africa, African now realize that Barick gold was ripping the country and making the leaders rich
As a country we should first look at performance of the countries they have mined gold and why those countries are getting rid of them
خواب ھوتے ہیں دیکھنے کے لیے
ان میں جا کر مگر رھا نہ کرو
افریقہ میں بھی گولڈ اور ھیرے نکالتے ہیں مگر غریب عوام کا پیچھا نہیں چھوڑتی
That’s funny. Benefits only for corrupt politicians and generals. Nothing for common man.
I’m interested Jab
Age 29 old
Inter
Gwadar balocistan..
It may be good for Pakistan, but all will go into pocket of form 47 govt.
Awam will not be benifitted.
Not a picture of Rekodiq site
Only 53 billion dollars as it is have around 2 to 3 trillion dollars worth of gold in Reko Diq rest all goes into Generals and their massagers and shoe polisher’s account like munira and company they all are their Pakistan need revolution.
People of Pakistan will never be benefited from it.