Reko Diq’s million dollar project to be settled out of court

Reko Diq’s million dollar project to be settled out of court |www.pakistantribe.com Reko Diq settlement

QUETTA – The government of Baluchistan intends to settle the contentious issue of Reko Diq gold mining project out of the court.

The spokesman of Baluchistan Chief Minister, Jan Muhammad Achakzai said the decision to settle the dispute has been taken during Baluchistan Cabinet meeting.

Earlier, during the regime of former President Pervez Musharraf the mining project was handed over to Tethyan Copper Company (TCC) a joint venture of Canada and Chili but it became controversial after his resignation in 2008.

The former coalition government of Baluchistan led by Nawab Raisani conditioned the mining license to the TCC on installation of Refinery in district Chaghai.

However, the company did not agree to the condition while the government avoided issuing a mining license.

TCC had turned towards international forums in this dispute for arbitration, but even after the passage of two years, the mining issue has not been resolved yet.

Jan Muhammad Achakzai said the government has now decided to go for out of the court settlement in order to solve the long due controversy.

He said, “To settle the matter out the court is vital as delay led to massive losses to the central and provincial government but in the real term this project was meant to develop and progress the country.”

Besides the Reko Diq gold mining, other important reservoirs are also located in the province.

District Lasbela is full of lead where some Chinese companies have been working; however they do not contribute for well beings of the province.

Some reports suggested that the Chinese companies are vying for getting a license for the Reko Diq project.

The spokesman said that they have invited all the companies which are working in mining and excavation including the Chinese companies as well as the Brazil investment companies in order to precede the work.

According to treasury department of Baluchistan, 40 out of 50 discovered minerals are currently being extracted from Baluchistan.

Despite the fact that Pakistan is full of natural resources especially the minerals, copper and gold  including Reko Diq and Sandiq projects, still these have not brought any socio-economic development in the country; however more than Rs 1 billion has been spent so far over settling this controversy.

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