REKO Diq is a small town in Chagai district, Balochistan. The world’s fifth largest gold and copper reserves are found in Reko Diq.
Tethyan Copper of Australia has taken the contract to develop this mine. Barrick Gold Corporation of Canada and Antofagasta of Chile have joint ownership of the copper-gold deposit at Reko Diq.
The Reko Diq deposit is being explored by Tethyan Copper Company (75 per cent) and the Balochistan Development Authority (25 per cent). The Tethyan Copper Company is held jointly (50 : 50) by Barrick Gold Corporation and Antofagasta Minerals. Currently the deposit is at scoping pre-feasibility stage. It is a world-class copper/gold porphyry style deposit, typical of the tethyan belt.
It was recently sold to the foreign-controlled regimes by the Pakistan government at a price of $21 billion. Rough estimates suggest that gold and copper at the surface accounts for $65 billion’s worth of deposits.
My question is : why is it being kept secret from the nation? For verification, one may search Tethyan Copper Company Limited.
GHOLAM MOHAMMAD
Karachi
http://www.dawn.com/2008/09/26/letted.htm#4
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