The truth about Reko Diq

By Farooq Tirmizi

How valuable is one’s wealth if it is buried underground and one has no way of getting it out? And what would one say to somebody who came along and volunteered to extract this wealth, providing all of the technical expertise and putting up the entire investment costs, and letting you keep half of the profits? Would it be fair to say that this person was indulging in exploitative behaviour? Or would we say that a fair deal was on offer?

The above scenario is not hypothetical. It is exactly what is currently going on in the case of the Reko Diq mining project in Balochistan. The Tethyan Copper Company, a joint venture between Canada’s Barrick Gold and Chile’s Antofagasta, has spent $220 million to explore the Reko Diq area and, having discovered a feasible reserve of minerals, is now willing to spend the further $3.3 billion it would take to extract the minerals. And yet it is being treated like a neo-imperialist villain out to pillage Pakistan’s national treasures. …

Read more : The Express Tribune

 

The Reko Diq fiasco

By Feisal Naqvi

The interesting thing about the internet is that it is as great a force-multiplier for ignorance as for knowledge. Take, for example, the Reko Diq project. The average Pakistani newsreader is convinced that (a) the Federal Government is an evil stooge of western interests; (b) the people of Balochistan are being ripped off yet again; and, (c) it is now up to the Supreme Court to save us. All three beliefs are completely wrong. Here are some facts about the Reko Diq project.

Read more : Pakistan Today