Reko

The consortium, Tethyan Copper Company Pakistan Ltd., expressed its disappointment today after the provincial government shot down an application for a mining license at a remote site in the dry hills near the Afghan-Pakistan border, known as Reko Diq, The Globe and Mail's Graeme Smith reports from Istanbul.

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The consortium, Tethyan Copper Company Pakistan Ltd., expressed its disappointment today after the provincial government shot down an application for a mining license at a remote site in the dry hills near the Afghan-Pakistan border, known as Reko Diq, The Globe and Mail's Graeme Smith reports from Istanbul.

The Globe and Mail - Home RSS feed Michael Babad 2011

Barrick is developing a massive copper and gold project in Pakistan called Reko Diq that contains more than 11 billion pounds of copper and more than nine million ounces of gold.

The Globe and Mail - Home RSS feed 2010

Mr. Raisani said he was approached by a Chinese company interested in both mining and smelting at Reko Diq, but he said there are currently no negotiations with the company, which he declined to name.

Pakistan Mine Hits Nationalist Vein Owais Tohid 2011

The Reko Diq project is being watched closely by other mining companies to determine how the government of Baluchistan will negotiate future mining licenses.

Pakistan Mine Hits Nationalist Vein Owais Tohid 2011

Mr. Raisani also wants to tweak Reko Diq's equity and royalty components to boost Baluchistan's profits and reduce its risks, although he didn't provide details.

Pakistan Mine Hits Nationalist Vein Owais Tohid 2011

Mr. Raisani is confident the province can develop a smelter and refinery at Reko Diq on its own.

Pakistan Mine Hits Nationalist Vein Owais Tohid 2011

Baluchistan's chief minister, Nawab Aslam Raisani, said his government will only grant a mining license to Reko Diq's 75% stake owner, joint-venture company Tethyan Copper Co. Pakistan Ltd., if Tethyan agrees that concentrate produced from the project will be sold to and refined by the province.

Pakistan Mine Hits Nationalist Vein Owais Tohid 2011

Reko Diq will generate substantial local employment, plus revenue of $25 billion over the life of the mine to each of the Baluchistan and state governments, according to a Tethyan feasibility study.

Pakistan Mine Hits Nationalist Vein Owais Tohid 2011

If it goes ahead, Reko Diq will become the country's largest single source of foreign direct investment to date, instantly doubling such investment at a time when the U.S. is considering reducing foreign-aid expenditure to cut its budget deficit.

Pakistan Mine Hits Nationalist Vein Owais Tohid 2011