Reko Diq is situated in Chagai district of Baluchistan along the border of Iran. It is home to an extreme weather: summers with 40-50 degrees while winters are around -10 degrees.
In 1978-79 geologists from the Gelogical Survey of Pakistan discovered here huge reservoirs of copper and gold. During the 80s proper consultants were hired to get an exact figure on these reservoirs. Reko Diq has 38 million ounces of gold which translates to 260 billion dollars (for both gold an copper). Kindly note that the total debt of Pakistan to IMF is 56 billion dollars. Currently a legal war is being fought between TCC (Tethyan Copper Company) and Baluchistan government.
TCC is the company which carried out exploration and feasibility study of Reko Diq. The deal with this company gave Baluchistan only 25% of the share out of Reko Diq which in simpler terms is peanuts.
Pakistan nearly lost the mine but the matter was brought public by Dr Samar Mubarakmand, a nuclear scientist and now due to his efforts the case is being handled by the supreme court of Pakistan. He revealed: “A small part of the Reko Diq gold and copper mines (EL-5) have deposits worth $273, while a similar kind of reserves have also been discovered in North Waziristan.” His constant reminders and warnings concerning the project through TV and other media are what saved us from this national theft. Someone surely tried real hard to sell our national assets like he was selling 'banyans' in a jumma bazaar. Many flaws and deceitful approaches have been noticed in the reports submitted by TCC which could have led the government into a bad deal. At latest Balochistan Chief Secretary Ahmed Baksh Lehri has said that they have placed a few demands before TCC and failure to compliance will aloow the government to say no to them. TCC's exploration license has alreayd expired. His demands include a complete and honest feasibility report, refining to be done in Pakistan so that a refinery can be setup and job opportunities arise and the agreement should consider welfare of local people.
Reko Diq has the potential to be the world's largest gold an copper mine but we Pakistanis, ever so courteous. We had to do something that plunge us deeper into the well of despair. Lets just hope for better outcome of the case.
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