Canada worried about Reko Diq investment
Diplomat says $400 million has been invested in mining project.
MULTAN:
Canadian Deputy High Commissioner Lajoas Andraaz has expressed concern over investment worth $400 million stuck in Reko Diq copper and gold mining project, referring to the money injected by Tethyan Copper, a joint venture between Canada’s Barrick Gold and Chile’s Antofagasta.
Early last month, the Balochistan government rejected a mining lease application submitted by Tethyan, which has a majority stake of 75 per cent in the mining project.
“We do not have any political objectives in Pakistan, Canada wants an economically viable and strong Pakistan and we will keep supporting it,” said Andraaz during a visit to Multan along with a delegation.
He also chaired a workshop on peace-building and interfaith harmony and met different social and political figures.
“Canada especially wants to make investment in mining industry, but response from the Reko Diq project is really disappointing,” he said.
He referred to a statement of Balochistan chief minister that foreigners would not be allowed to continue work on the project, which the diplomat said was a big worry as Canadian investors had injected $400 million into the project.
He stressed that the Canadian government had always aimed to promote economic interests of the people of Pakistan beyond any political means and vested interests.
Published in The Express Tribune, December 16th, 2011.
Canadian Deputy High Commissioner Lajoas Andraaz has expressed concern over investment worth $400 million stuck in Reko Diq copper and gold mining project, referring to the money injected by Tethyan Copper, a joint venture between Canada’s Barrick Gold and Chile’s Antofagasta.
Early last month, the Balochistan government rejected a mining lease application submitted by Tethyan, which has a majority stake of 75 per cent in the mining project.
“We do not have any political objectives in Pakistan, Canada wants an economically viable and strong Pakistan and we will keep supporting it,” said Andraaz during a visit to Multan along with a delegation.
He also chaired a workshop on peace-building and interfaith harmony and met different social and political figures.
“Canada especially wants to make investment in mining industry, but response from the Reko Diq project is really disappointing,” he said.
He referred to a statement of Balochistan chief minister that foreigners would not be allowed to continue work on the project, which the diplomat said was a big worry as Canadian investors had injected $400 million into the project.
He stressed that the Canadian government had always aimed to promote economic interests of the people of Pakistan beyond any political means and vested interests.
Published in The Express Tribune, December 16th, 2011.