Daily Archives: February 5, 2023

“Gold that begets grief is better forsaken”

Projects that deprive people of their resources and produce hazardous waste in return should be unequivocally condemned.

Mir Mohammad Ali Talpur

The Reko Diq saga has had more dramatic twists and turns than those of a gruesome mystery thriller, but its first chapter is still incomplete. And what more pain it will bring in its wake is yet to be seen. Reko Diq is a lucrative piece of land, and according to international surveys, it has estimated reserves of 5.9 billion tons of ore grading and 0.41% copper and gold reserves – amounting to 41.5 million oz.

This saga began in 1993 when Balochistan government signed an agreement with Australian mining company BHP Billiton on preposterous terms, with BHP holding 75 percent and the government 25 percent share on a joint-investment basis, with 2 percent royalty.

However, in April 2000, another Australian company called Mincor Resources took over BHP’s operations, which was then acquired by Tethyan Copper Company’ (TCC) in 2006. Interestingly, the TCC shares were bought by a consortium of a Canadian mining company Barrick Gold Corporation and Chilean company Antofagasta in 2006.

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Feb 6: Martyr’s of Freedom

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February 5, 2023 · 3:00 am