Monday, May 20, 2013 - Pakistan has proven reserves of metallic minerals, i.e. copper, gold, silver, chromites, iron, lead and zinc, which are still untapped. One of the world’s largest reserves of gold and copper was discovered at Reko Diq in the Chaghi area of Pakistan’s southwest Balochistan province. According to development experts, some 12.3m tons of copper and 20.9m ounces of gold lie in the Reko Diq area. The copper-gold deposits at Reko Diq are believed to be even bigger than those of Sarcheshmeh in Iran and Escondida in Chile.
As the mineral wealth could not be exploited in the past due to lack of interest and absence of modern technology in the country. Foreign investors and companies are , therefore, now encouraged to invest in exploring the riches of the province. Reports emerging from various sources indicate that the $65bn natural deposit will be sold for $21bn. The world, copper and gold prices have been doubled from the first estimates for our reserves.
So the mines are worth more than $150bn. The $21bn plus 25 per cent stake of the BDA (Balochistan development authority) for a $65bn mine is just peanuts by any standards. By this we can say that Pakistan has one of the best natural resources in the world we should start thinking about this and in the near future our countrys economy could be as strong as of China.
Mining In Balochistan
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