As per the news sources, Balochistan government is evaluating a proposal to develop Reko Diq, Balochistan’s copper and gold mine, a Balochistan government official, on condition of anonymity.
A local company The National Resources Private Limited has signed a local agreement for the construction of a copper and gold mine. agreement has been proposed to the provincial government and is ready to develop and market the Tanjeel reserves as an initial project with the subsequent development of the Reko Diq reserves in the province.
The officials have said that the provincial government is working on various proposals to develop Reko Diq.
However, provincial Government believes that the $6 billion penalty, which the International Center for Settlement of Investment Disputes (ICSID) has awarded for cancelling the TTC mining contract, is in the matter of federal government.
The Supreme Court blocked a joint venture between Balochistan Mineral Exploration Company (BMEC) and Tethyan Copper Company in 2013 for development of Reko Diq reserves..
Latest posts by News Desk (see all)
- PSX Weekly Review: 22-September-2023 - September 22, 2023
- Fatima Fertilizer to invest PKR 7.6bn in REITs - September 22, 2023
- EuroZone Economic contraction in September - September 22, 2023
