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Reko Diq Mystery

Reko Diq is a small town in Chagai District, Baluchistan having the world’s largest Gold and Copper reserves (!!!). Reports emerging from various sources indicate that the US $ 65 Billion natural deposit might have been sold for US $ 21 Billion to Tethyan Copper of Australia which has taken the contract to develop this mine while Barrick Gold Corporation of Canada and Antofagasta of Chile have a joint-ownership of the copper-gold deposit at Reko Diq.

The Reko Diq deposit is being explored by Tethyan Copper Company Pty Ltd (75%) and the (BDA) Balochistan Development Authority (25%). 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 has been sold to the Zionist controlled regimes by the Pakistani Government under the dictator at a price of $21 billion. Rough estimates suggest that the gold and copper at the surface accounts for $65 billion worth of deposits.

Dawn: Reko Diq is a giant copper and gold project in Chaghi, containing 12.3 million tons of copper and 20.9 million ounces of gold in inferred and indicated resources. The copper-gold deposits at Reko Diq are believed to be even bigger than Sarcheshmeh in Iran and Escondida in Chile. The Reko Diq copper deposits which is in the neighbourhood of Saindak copper project, is four times larger in copper ore tonnage than Saindak. The most credible international surveys suggest that Reko Diq is one of the biggest undeveloped copper projects in the world with over 11 billion pounds of copper and nine million ounces of gold. So far, three foreign companies have purchased stakes in the strategic copper and gold assets setting off a cycle of ‘change of foreign ownership’ of Reko Diq copper project. Pakistan has only 25 per cent stake in the Reko Diq copper project. The rest of the 75 per cent stakes had first been transferred to BHP Billiton, the Anglo-Australian mining giant and then BHP Billiton under a ‘deed of waiver and consent’ transferred it to the Australian TCC and now TCC has sold its 19.95 per cent stake to Antofagasta Minerals.

The question for the wider audience on this blog is to find out if this is actually true, it apparently seems that with a very small stake in the overall project (25%) we might be on the wrong end of the stick. I cant seem to make any sense behind this but open the floor to experts who might better be able to shed light weighing in this PDF report that has some serious mining data supporting the Riko Diq project


  • Obi Wan Kenobi

    What made you report this after 2 years ? Do you want to show this a success of current government or for all these years, you were busy in reporting Ch. Loser Justice and could not find time for this.

    Can we please write something about 16% subsidy on electricity bills which is taken off by our new loved democratic government and can you quote me the hike of prices of things for last 4 months. I want to laugh on you Mush haters but can’t because it’s lose-lose situation for all country.

  • @OBI ;) very true – i never realized that this was reported in 2006 – well what can I say. success or failure – we should know about it anyway (heck I never had heard of it) was new to me

  • I had never thought if we are gold enriched country, heck they sold it for too cheap … Gold prices have doubled in past 2 years we certainly could have made more isn’t?

  • Aflatoon

    $ 21 Billion ???

    No I think there would be some change too, that fell into the pockets of BDA officials and the thugs of MUSH govt.

    Now its time for Asif Zar-dar-ee to get his 40%.

  • Skywalker

    Obi, my jedi knight, Teeth is on a sacred mission to remove evil sith lords who have taken over the empire, you must not violate the sacred Jedi code, instead help him and not to succumb to evil and become sith lord darth vader.

    May the force be with you.

  • Adil
  • Tahseen Alam Khan

    What is for the poor Pakistanis in it?????????/

  • Shadab

    “we can never be master of our own fate.poor us!! poor pakistani will remain poor. 25% – 75% a poor proposition. Who could forsee middle east like today a 100 years ago? Thats how they prosper using their earthly resources. We have never been allowed to search out or dug out the minerals even though we are rich in oil, copper, gold, coal and I wonder “Diamonds”??

    May Allah take care of us.

  • This is a common issue in mineral-rich regions. I saw the same thing happening in the DR Congo region of Katanga where the Chinese are setting up to mine coltan as fast as they can. The one big difference is that through DR Congo’s decades of corruption under Mobutu and now under Kabila II, the entire infrastructure is completely collapsed and they are simply unable to mine their own mineral wealth, which includes a great deal of gold, diamonds, and other materials in addition to the coltan.
    But, from what I understand, Pakistan is in considerably better shape than DR Congo and should be conducting this mining operation on their own. So… why aren’t they? Is it just a payout to some upper brass or is Pakistan actually unable to develop this region internally or is Pakistan unable to sell (or use) the materials on their own?

  • Karim G

    THEY ordered us to ‘bend over’ a long, a very long time ago, we have forgotten…we can’t walk straight any more!

    Musharraf Zindabad
    Benazir Zindabad
    Zardari Zindabad
    N.Sharif Zindabad

    did I leave out any body?

  • Silence

    I got this story in email few weeks back by some journalist, it was before Awab posted it here, but to me it was nothing new………

    There are “kick-backs” and corruption in each and every deal made by Pakistani governments, with exception of ZA Bhutto, who was not corrupt in terms of finances.

    Rest all were/ are equally corrupt and dishonest, Zia, Nawaz, Zardari, Musharaf, Shaukat Aziz………each of them and their teams worst thieves then others, right from ZIA and his generals selling americans weapons and smuggeling drugs to Nawaz’s expanding industrial empire, Zardari’s commisson stories and Musraf’s PAKISTAN STEEL MILLS SCANDAL, our history is a painfull story of corruption.

    Before jumping to any conclusion without solid proof that whats potentail of mine and what would have been equity ration, can someone put some figures that how much is production from the place and if such high potentail then what we Baluchistan development authority is getting in return of 25% share.

    This must not be a wonder that this place was given for some kick backs but the value above seems to be too much inflated and looks like a brain child of some so called journalist.

    One more thing, developing such projects needs lots and lots of investment, most sophesticated technology and a peacefull enviornment, all of three requirements are missing here specially in given law and order situation in Baluchistan, as long as its developed and Baluchistan Development authority can get 21 Billion $(as stated in post), without any investment or infrastructure development. It still might worth it……21 Billion $ for BDA is a lot of cash and still they have entire Baluchistan to explore.

    • Musa

      Idiot bhutto was just as corrupt in case you want to read up on your history.

  • Shabbir

    The world copper and gold prices have more then doubled fro the first estimates for our reserves as given by you in this post.So the mines are worth much more.

    But don’t worry.these foreigners will not be able to take anything away.The will give us the cash for their rights and also flee when confronted by the ‘terrorists’.

  • Tahseen Alam Khan

    Gold & Copper are for the foreigners and their caretakers in the Country. Bombs & Price hike is for the poor Pakistanis.

  • Manafar

    Why do we have a seige mentality. US$21 billion plus 25% stake of BDA for a US$65 billion mine is a prteey good deal by any standards. Has anyone of you thought the amount of finances, infrastructure and manpower development is required if one gets 75% of 65-21 billion dollars = US$33 billion? And that too spread over many many years. We can keep sitting on it and wishing we had the resources to get the whole piece of pie or we can go ahead and get the development now by paying a certain price.

  • Tahseen Alam Khan

    INDEPENDENT & Properly restored Judiciary of 2nd November 2007 is the Solution of problems like these. Untill we have Judges restored to their positions we will be facing more worst situations then what we are facing at present. PAKISTAN BACHAIN GAE JUDGES BAHAL KARIAN GAE INSHALLAH.

  • Manafar

    What has the restoration of judges got to do with an excellent deal we have for Reco Diq is beyond my comprehension.

  • Suzziman

    Its really an alarming situation as how the “FREEMASON” Jews have taken over the world banking system by putting in the FAKE paper currency whereas the actual wealth i.e. GOLD, SILVER, COPPER, BRONZE is being vanished away… The financial fraud of Currency has given so much power to these few private bank owners of States and Britan that they can control whatever they want; whether its a WORLD WAR, INFLATION, OIL SHORTAGE etc… We need to “OWN” our property and it doesnt matter what its worth because counting in USD $ is just a gameplay. We must remember that behind dollar is only and only “GOLD” which makes it an exchangeable currency. Do study the Federal Reserves issue.

  • mia

    what the heck..!!!!!!!!!!
    we want it ourselves

    why are we giving OUR TREASURE to others..?????????

    this project and deal with foreigners should be canceled immediately………..

  • Manafar

    It is our own inability to succeed, and we blame everything on the Jewish/American/Indian conspiracy, and of late on Mush and the delay in restoration of the ex-judges. I guess we’d rather remain poor, un-educated, intolerant and fanatically bigoted rather than learning how the world system of economics work, mastering it, and then beating everyone else in their own game. We must come out of this paranoia and let the development take place or be prepared to forever live the life of cavemen and pass on the smae mindset to our kids and the generations to come. Pakistan Zindabad indeed.

  • Please brothers visit http://www.rekodiq.com and http://www.rekodiq.net for complete information with pictures and proofs that these companies belong to Zionist. I think thats a very good effort.

  • SARK

    I hear that the CEO of Tethyan, the company that is managing the Reko Diq project is being replaced. Anybody know why?

  • Country_man

    $65 Billion! Now here is another reason for the US forces to attack Pakistan. Nowhere in the world have the US forces invaded without an economic incentive. Long live the “Taliban” who were hired, trained and used by the US… and still are.

  • omer

    Well its good we are getting atleast that much.
    If the government is in strenght then it should revise the price or share according to the world market fluctuations.

    May the best DEAL win

  • Noman

    Just wanted to ask you ppl ?

    Name one extraction project that we was done by all pakistanis ……

    Whether it was sui whether it was mari feild Gas project … thar coal project. It was all headed by foriegn mining companies and they always had grabbed a major share over the projects …..

    so y blog on only this project …..

    atleast we are getting 25 % of this project ….

    what about thar coal discovered 30 yrs back ….. it haven’t started benefiting yet ……. just bcoz of corruption , mismanagement of all our fucking politicians and generals.

    every one after liaqat ali khan in this country are corrupt.
    Whether it was ayub khan, ZA bhutto , Zia ul Haq , nawaz sharif , benazir bhutto , musharraf .

    And so are the people who don;t even realize what they are doing to the country. Trusting on same politicians again and again and again .

    Coming back to the point …..

    These reserves has no worth as compared to what Balochistan has to offer. But what the sardars do over there ….. ” HAMARI ZAMEEN PER QABZA HO RAHA HAI” Y the hell we can;t produce miners and mining companies ….. Those sardars don;t even let their ppl to study even very basics. If mining institutes are opened in balochistan and if the ppl they are allowed to educate them selves, only then we will be able to claim our whole wealth …..

  • Yaz

    The origional contract for mine was signed in the 1990s. Seems like people what more reasons to bash Mushy. lol

    The article stinks of “Xenophobia” is the value quote of minerals based on copper and gold worth in 1990s or today, big difference if it is? Is it better to leave minerals in ground or make money from them?

  • Naveed

    Salam to all
    How long we will continue to blame BDA, Mush Thughs or Zardari. Certainlly, they all are thugs. But what we r doing? Can we do any constructive effort to save our natural reserves from all these thugs whether they are local or international e.g. Barrick Gold Corp?

  • Ch.Ahad Javed

    the working on this project(reco dick) is carried by 1 ausralian company and 1 israelian company, In pakistan Isreal is a ban country, then what this????????
    75% of this project is own by these companies and 25% percnt is only for pakistan!!!!!!!
    this project is started in President Bitch Musharaf.

  • JUNAID

    this is insane pakistani government has done a terrible job giing its peoples property to zionist 65 billion orth of gold crap man pakistan overall debt it is 40 billion and 65 bill worth gold sold a new estimates show that it contain upto $244 billion of gold and copper. another site in sindh “LAKHARA” has world largest coal reserves worh 800 to 1.3 trillion$ worth coal and another survey done by worlds largest daimonds company it also contain daimonds worth trillion$ more .ALLAH has blessed pakistan with this and acc to him it is the property of its citizens .I hope that an honest and a true patriot who should have knowledge of world and here after would lead us muslim to sucess and would thi project too.
    JUNAID.ABDUL.HAMEED

  • K2PAKISTAN

    Dear Pakistani brothers:

    who have left all these colorful comments about REKODIQ.

    You are all misinformed –i am a geologist and know the real picture and how things actually work in the Geological world.

    All countries have PSA(Production sharing Agreements)and they take cost recovery benefits plus some schools and buildings– but the companies who risk their Capital get a 35% kicker at most– so 65% remains in the country and 35% goes to the companies after they have done their COSTRECOVERY–in Perspective ;look at the laws of Indonesia

    6th generation COW's(Contracts of work) and see– and be realistic– Indonesia is an extremelt rich mineral country

  • zebust

    @K2PAKISTAN

    can u please elaborate a bit….like, how these things works in geological world…. caz lots of ppl here might not b aware of it…. it wud b great if u shed light to it….

    i think we should not lose ourselves to emotions, and jump onto conclusion without using our brains…. $21bn out of $65bn is not bad…. considering that Pakistan has 0% investment…plus….it will bring in latest techniques and state-of-the-art technology in this sector…. this is not all of it, as pakistan has much more resources…. we dont have resources to get it by ourselves, weather it b investment or technology…. we r standing nowhere…just think from other perspective… if we get all these latest trends nd techniques then we will get somewhere, and wont need anyone else for rest of our resources….

  • SARK

    Sometimes I despair of my countrymen…..See the link below:

    http://www.aaj.tv/news/Business/112607_8detail.html

    Someone needs to tell these guys that driving into a project with 30 armed men in 10 trucks and making demands is not the best way to ensure that locals get employment. Whatever you think of the deal between the Pakistan and the western companies, the fact is that we need currently need the western expertise to extract and commercialise the minerals. It does no-one any good if the western personnell are asking to be removed from the project because they fear for their safety.

  • Mohd Anwar

    I am working on this project & sure the hydrogeological studies for the project are not correct. As the contractor is not a qualified one have no credible equipmenmts,no qualified hydrogeologist of its own & using substandard material.Not developing well properly.I dont know how the project will run on fictitious studies.

  • Ali Dost

    Yeah it is like this… all leaders of the nation are corrupt and they are interested just in there…. interest

  • Free-Speaker

    To all the weirdos supporting the project as it is lets slash a few myths:

    1) We need this:
    No we dont. We dont need to invest 25% in mines on our own land in hope of getting 25% back. Tethyan will show incorrect mining figures and will pay-off any auditor etc to keep it that way. balochistan wont be getting anything more than 5-10% max of the actual wealth in there.

    2) Since we dont have the experties we couldnt do it any other way:
    Lies! A very simple alternative would have been to publish a tender for any interested companies to let us know what cost they can do this for without getting any share in the project. We basically need costing from multiple companies on how much will they charge us for setting up the mine and training the people in pakistan for the whole project. Once the cost is known, they can be offered to be paid in copper+gold ores according to standard prices. We wouldnt have to spend a dime and can pay them off from the ore dug up.

    3) at least we get 25%
    well, thats pretty useless. why should we give out 75% of OUR reserves to get 25% back after investing 25% in the project? why isnt it better to keep our reserves intact until we have the ability to extract them? if our politicians would not be taking huge salaries for the ZERO work the do, we would have a lot to fund the development of these mines.

    May Allah give some sense and honor to our people and our politicians.

  • Daz

    Manafar and a very few others seem to have a sound view on this. Its all too easy to take ‘blame the westerners’, but Manafar is right. i worked on this project this year and where Paistani’s don’t have the expertise, the foreign professionals are sharing knowledge in order to hand the project over gradually.
    Some of you complain about foreign companies this and that, but Reko Diq has made the quality of people’s lives in the region much better. If this project were to wind up, the locals would be back to goat farming and chewing Najwa.
    This project is HUGE for Pakistan.

  • i am very shocked and disappointed to hear this bad behaviour of our Government.Alas! They could have atleast thought before selling it.
    Don’t we have our own Engineersssss?

  • Salman Sarwar

    BEWARE THIS Government is corrupt and an absolute enemy of the nation

    All Pakistanis,

    Reko Diq is a small town in Chagai District, Balochistan. World’s 5th largest Gold and Copper reserves are found in Reko Diq. Tethyan Copper of Australia has taken the contract to develop this mine.

    Proof No. http://en.wikipedia.org/wiki/Reko_Diq

    Barrick Gold Corporation of Canada and Antofagasta of Chile have a joint-ownership of the copper-gold deposit at Reko Diq. The Reko Diq deposit is being explored by Tethyan Copper Company Pty Ltd (75%) and the (BDA) Balochistan Development Authority (25%). Tethyan Copper Company is held jointly (50:50) by Barrick Gold Corporation and Antofagasta Minerals.

    http://www.barrick.com/GlobalOperations/Projects/RekoDiq/default.aspx

    http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSN0744334820080807

    http://www.allvoices.com/contributed-news/1659815-all-that-glitter-is-gold-at-reko-diq

    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 Pakistani Government at a price of $21 billion. Rough estimates suggest that the gold and copper at the surface accounts for $65 billion worth of deposits. Tell me how many of us know about it ..remember the total debt on Pakistani Nation is $38b, Now the question is why Pakistani media and Govt is silent about it? Why it is being kept a secret from Pakistani Nation?

    Forward this as u can !!!!!!!!!!!! !!!!!!!!! !!!!!!!!! !!!!!!

  • bewildered

    As i under stand it;

    The boluchi governemnt is getting 25% ownership of a massive, hugely expensive project for nothing, zilch, zip.

    The government will then take profits from the mine based on their 25% for the life of the mine (around 100 years). If you don't want it maybe Barrick and Antofagasta with all of their expertise, know how and experience can leave you to it and see how you go.

    As for zionist owning Barrick….. share holders own Barrick. In this day and age of corperate responsiblity and accountabilty to think that some one in charge of multi billion dollar company would be out to screw any particular race or creed is crazy in my book although saying that i can understand how the thousand years of hate and resentment could lead to such a conclusion.

    Additionally as a result of this project there is going to be massive infrastructure investment in Pk, things like railways and roads. not to mention the wages paid to local people, the social programs like schools and health care etc, the flow on income to associated industries. You guys are only looking at the direct profit but the indirect profit will be massive for a lot of everyday Pakistaini's

    I really hope that this project can get off the ground for the good of the people of Pakistan

    why can't eveyone get along.

    love to my brothers at reko diq

  • Muhammad Arslan

    we dosent say any word, the govrnment that is afrid from impartial judicery, and the peoples who came in power by the amercian deal and the NRO , what we expect from them . and if this is done by the other government then its the obligation of PPP to made this contract Null and void , but why they do so , i also include nawaz sharif he is also enjoying the great mojority in the national assembly and why not he or his party management put this issues in the parliment. He is also part of of this deal why he do so these are all corrupt and amercian dogs which only making us befoll,bhtto banazir zardari musharaf nawaz altaf are all amercian and israels dogs , the bloody dogs of amercia and isreals . why they do so .Bhutto is the landlord , nawaz is industrialist, banzir id the daughter of bhutto are all amercian and isreals agents . nawaz attack on supreem court, how we foget it banazir spokes against our national hero Dr Abuld Qadeer Khan ,mushraf attacks on lal masjid . the bitch banazis father says JO DAKHA JAY GA MA US KI TANGA TOOR DO GA. Z.A bhutto launced the operation against bloch peoples and thousand of bloch killed in thus operation , the operation countnued for abot 6 years , and same is done by mushraf . why bhutto accept the mandate of sheikh mujeeb ur rehman. why in 1977 movment the police killed the innocent peoples which were prtesring against bhutto and why peoples are killed in the liaqat bagh . in bhutto government . what is the purpose of fedral reserve force made by the bhutto, he also killeed the innocent peoples and was a killer . then Ghazi zia cames he made us befoll on the name of islam and begans the fighting the war of afganistan which was not ours and still we are facingin the concequences of this war . we are paying the price in the form of afgan refuges and the klashankoof and church and heroin cluture whaic pervail in our society .

    how says to ayuob kahn the dadi, who was in his parlement he polich the boots of ayub khan how u can deany this fect he remains in his assembly for 7 years who was the pakistan forigen minster the bloody bhutoo he says to ayoub kahn dadi . tries to proves himself the faithful dog of ayub khan . nawaz sharif also becoms the part of zia assembly and tries to prove himself the faithful dog of zia the jamat islami also the part of zia assembly these are all bloody dogs . and now hamza shahbaz came . bilawal bhutto zardari cames and rule upon us nawaz assects are 1.2 billions us dollars in forigan banks . and bhuttos assects are 1.4 billion us dollars and the nawaz paid tax in 1994 only 500 shabaz sharief 300 bloody bitch banazir paid tex 1000 only and in 1998 nawaz sharief paid tax zero and bhuttos only 5000 thes . in year 2007 molan deasel fazal ur rehamn showed that he has only 3000 in his bank accout and hamza shabaz shows only 20000 thes are are bests but may be dogs , pigs and beast are much batter then him who are the persons which are the killers and Anp is the pro indain who one denies from this . they are proud to called Sahdi ghandi , bhuttos father against he quaid e azam anp against the pakistan what we says abot them . mqm are the terrorist which were establish by zia ul haq against ppp these are are pigs and dogs . the sourse of tax details is javed chaudhary book zero point . his colms published in news papers we expect from them that they work for our country no we should dosent expect from them but we dosent give the vote to thes dogs and bitches

  • ahsan

    i was watching this programme of zaid hammid "brass Tacks" he also talked bout this RECO DIQ PROJECT tht how the people of pakistan have been fooled by the previous govt.

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  • ali

    Kia Pakistani Engineers aur Geologist Hamesha Mar Gay Thay

    Is Pakistani Engineers and Geologist Deied.

    Pakistani Nation Have Luck Like this

    Poor,Poorer,Poorest

    and

    finish.

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  • This is great news. keep it up