Reko Diq Project Continues After Court’s Approval

Reko Diq is the world’s largest undeveloped mine of copper and gold which is located in the Chaghai District in Baluchistan, Pakistan.

It is the largest mine in the world because it has estimated reserves of 5.4 billion tonnes of copper and gold ore. However, a dispute case stopped the development of this project.

But Canadian mining firm, Barrack Gold Corporation has taken the responsibility of developing the Reko Diq project after Pakistan’s top court and parliament agreed to their terms and allowed them to the reconstitution of Reko Diq project.

A couple of days ago, Pakistan signed a deal with Barrick Gold Corporation to revive the project and settle the long-running dispute of $11 billion.

According to the agreement, Reko Diq is owned 50% by Barrick, 25% by three federal state-owned enterprises, 15% by the Province of Baluchistan on a fully funded basis and 10% by the Province of Baluchistan on a free carried basis.

CEO of Barrick Gold Corporation suggested that this project will be world class and long-life mind that will not only benefit Barrick Gold Corporation but also benefit the Pakistani stakeholders and their future generations.

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