After ten years of public fights, Prime Minister Imran Khan declared a successful deal for the development of the Reko Diq mine, claiming it will carry US$10 billion in funding and 8000 jobs to Balochistan.
After ten years of litigation and court meetings, Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) and the authorities of Pakistan and Balochistan have shaked hands together to a framework that would facilitate the Reko Diq operation in Pakistan’s Balochistan province to be reconstructed.
This initiative was halted in 2011 because of an ongoing dispute over its licencing procedure. It incorporates one of the world’s biggest undeveloped open pit copper-gold porphyry deposits.
He stated that an anticipated US$11 billion fine may be abolished, and that US$10 billion would be spent in Balochistan, resulting the advent of 8000 new gainful jobs.
The Reko Diq, in accordance with the prime minister, could be richest and greatest gold and copper mine, liberating us from severe debt and entering in a brand new generation of development and prosperity.
