Reko Diq project targeted for mining, extraction by 2028
Business
"In addition to hiring specialists, locals also contributing to project," says CEO Barrick Gold
QUETTA (Web Desk) - Reko Diq project has been targeted for routine mining and metal extraction by the year 2028 while the project s feasibility report will be ready till 2024.
Reko Diq project in Balochistan has officially started construction, Chief Executive Officer Mark Bristow of Barrick Gold Corporation announced the establishment of a project office in Quetta during a ceremony at the Chief Minister s secretariat.
He said, “In addition to hiring the greatest team of specialists locals were also contributing to the project.”
Chief Minister Mir Abdul Qudoos Bizenjo, Balochistan Assembly’s Acting Speaker Sardar Babar Musakhail, Opposition Leader Malik Sikander Khan, MPAs and cabinet officials also attended the ceremony.
The Chief Minister claimed that although the legislation process was challenging but it was completed peacefully and the project is now beginning to be implemented. The initiative would benefit Pakistan and Balochistan, he continued.
CM and the members of the provincial parliament were also congratulated by the CEO of Barrick Gold Corporation for welcoming him and his staff. Mr. Bristow described the incident as historic and added that the project s work had started at the beginning of the new year.
The Reko Diq project, a sizable copper and gold resource in Balochistan, has been targeted for routine mining and metal extraction by the year 2028, Mark Bristow said.
He said that the federal government and the provincial government have been notified that they want to finish the Reko Diq project s feasibility report by 2024 once the appropriate financial arrangements and legal framework have been approved.
Barrick Gold would own 50 percent of the Reko Diq project, followed by 25 percent by Balochistan and 25 percent by the federation. This type of shareholding is compatible with the barracks strategy, which is centered on an equitable sharing of financial and economic advantages with host nations.
Further hiring has reportedly started in the Quetta office where most of the employees will be locals, Mr. Bristow said. He declared that his company s first focus will be developing friendly and reliable ties with the community and looking out for their wellbeing.
By offering the locals a chance to engage in the project, Mr. Bristow emphasised the necessity of cultivating a sense of cooperation and ownership among them. He announced that this month, $3 million will be given to the Balochistan government as part of the deal pertaining to gold and copper deposits.
