Connect with us

Hi, what are you looking for?

Economy

Barrick Gold initiates work on Reko Diq project in Balochistan

QUETTA/ISLAMABAD: The Barrick Gold Corporation formally initiated work on the Reko Diq project in Balochistan. The Canadian companies made this official announcement on Sunday.

The CEO of Barrick Gold Corporation Mark Bristow said the company has also established an office in Quetta to handle the project.

He said, “We have hired the best team of experts while locals are also working on the project,” he added.

The Barrick Gold organized a ceremony at the Balochistan Chief Minister House to announce beginning of work on the project. Balochistan Chief Minister Mir Abdul Qudoos Bizenjo, Acting Speaker Balochistan Assembly Speaker Sardar Babar Musakhail, and Opposition Leader Malik Sikander Khan participated in the ceremony.

The CEO of Canadian mega company thanked the chief minister and the members of the Balochistan Assembly who accorded a very warm welcome to him and his team in Quetta.

Mr Bristow said, “The work on the project has started with the beginning of the New Year.

He said that his company has initiated the process of hiring local staff to pace up work on the project.

Chief Minister Balochistan welcomed the CEO Barrick Gold and said that the Reko Diq project would be a major breakthrough for the development of the province and national economy as well.

He appreciated the presence of opposition MPAs in the ceremony and termed it a good sign. He said that the government and the opposition are on the same page for the provincial and national development.

“We have reached this stage after passing through some difficulties, including legislation, taking the political leadership into confidence and removing hurdles in signing the historical agreement,” the chief minister said.

Meanwhile, Mr Bristow further said that $3 million will be transferred to the Balochistan government under the Tanjeel agreement relating to gold and copper reserves within this month.

He said, “We have not only come to invest in Reko Diq, but our priority is to open Balochistan to the world for investment.”

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

Economy

ISLAMABAD: The International Monetary Fund (IMF) announced sending its staff mission to Pakistan on Jan 31 for talks on the 9th quarterly review of...

Economy

ISLAMABAD: ECC approved the increase in discretionary spending of parliamentarians to Rs90 billion, in complete disregard of the looming economic meltdown. The allocation includes...

International

Egypt unveils 4,300-year-old mummy, tombs: Egypt unveils 4,300-year-old mummy, tombs Archaeologists discovered a Pharaonic tomb in Cairo, Egypt’s capital, with what may be the...

Politics

ISLAMABAD: PPP co-chairman Asif Zardari sent 10 billion rupees in a legal notice to Imran Khan for accusing him (AZ) to plan the murder...