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QUETTA: The Balochistan government has announced that the work on the Reko Diq project will be started on August 14 next month.
According to the details, Balochistan Chief Minister Mir Abdul Quddus Bizenjo and Barrack Gold Corporation, the company working on the Reko Diq project, announced the start of work on the project during a joint press conference in the provincial capital, Quetta.
During the press conference, CM Mir Abdul Quddus Bizenjo said that official work on the Reko Diq project will start on August 14. The province will be able to get an annual income of 1 billion dollars while 7,500 people will be able to get employment.
The chief minister said that the Reko Diq project can continue for 40 years. Barrick CEO Mark Bristow said during the press conference that the company and Pakistan are working on final agreements. The company’s share will be 50 percent, he maintained.
Mark Bristow added that the federal government of Pakistan and Balochistan will share 25, 25 percent of the Rekodic project. Royalty and dividends will also be given without investment to the Balochistan government.
Mark Bristow added that the Barracks company will review the feasibility study after legal action. Copper and gold from Rekodic deposits are expected to be produced for the first time by 2027. The mine will be planned at the traditional open rate. The life of the mine is 40 years and around 4000 long-term jobs will be created.
